Market Update
Hong Kong Markets Extended Rally to Eighth Day Ahead of US-China Joint Statement
Li Chen
12 May, 2025
Hong Kong
Stock market indexes in China and Hong Kong advanced amid hopes of a positive outcome of the US-China trade talks in Switzerland.
The Hang Seng index gained 0.8%, and the mainland-focused CSI 300 index inched higher 0.6%, as investors looked forward to details of the framework of US-China trade talks.
The talks in Geneva followed weeks of tensions and global financial market chaos after the U.S. slapped unilateral country-specific tariffs on all imports, with the heaviest burden on shipments arriving from China.
The two sides issued positive comments after two days of talks ending on late Sunday, but it is not clear what the U.S. and China have agreed upon.
The U.S. and China "have taken important steps to resolve important differences through equal dialogue and consultation," the state news agency Xinhua reported.
Despite positive spin by trade negotiators, investors are skeptical that the two sides could reach an agreement in such a short time, as China is looking to lower tariffs to less than 10% from the current proposed level of as high as 250%.
Negotiators in Geneva said that the two sides will release a joint statement on early Monday New York time, and the statement is likely to focus on the trade negotiation framework and set an outline of discussion topics.
Two sides are far apart in their demands, and an agreement is not likely to be reached before the year's end, as the Chinese government ramps up imports of agricultural products from South America and restricts the sale of rare earth minerals to the U.S., according to three Chinese trade negotiators contacted by ticker.com.
The trade discussions are fluid and at an early stage, and the possible outcome is likely to focus on an interim deal covering the next three months to de-escalate tensions and continue the flow of direct shipments from China to the U.S. West Coast ports.
China Indexes and Stocks
The Hang Seng index advanced 0.8% to 23,049.61, and the mainland-focused CSI 300 index edged up 0.6% to 3,869.78.
Contemporary Amperex Technology Co. Ltd. rose 2.6% to 254.69 yuan, ahead of the electric vehicle battery maker's public offering on the Hong Kong Stock Exchange.
The company is set to sell at least 117.9 million shares and raise as much as HK $41 billion, or US $5.3 billion, at the top end of its offering price of HK $263.
Export-sensitive stocks advanced in Hong Kong trading after the US and China sent positive signals after the ending of trade talks in Switzerland.
Haier Smart Home Co. jumped 4.4% to HK $23.80, Techtronic Industries advanced 3.9% to HK $89.75, and Sunny Optical Technology Group soared 10.5% to HK $70.95.
U.S. Market Rally Halts Amid Growing Skepticism About US-China Trade Talks
Scott Peters
09 May, 2025
New York City
Wall Street indexes lacked direction in Friday's trading as investors reviewed the latest batch of earnings.
The S&P 500 index edged down 0.1%, and the Nasdaq Composite inched lower 0.2% ahead of US-China trade talks this weekend in Switzerland.
Investors are anticipating talks to yield results, reflecting a view that China has sharply reduced its reliance on the U.S. market over the last ten years.
Despite the increase in tariffs during the first Trump administration, China's exports jumped more than 50% between 2016 and 2020. Moreover, the share of direct shipments to the U.S. declined from as high as 25% to below 19% in the period.
China's manufacturing companies have expanded their production bases to Mexico, Vietnam, Thailand, Bangladesh, and ASEAN-member nations, avoiding high tariffs on direct shipments from China.
However, that strategy of diversifying the supply base by the Chinese companies is under severe strain under the new tariff regime proposed by the current Trump administration.
If a trade agreement is not struck by the end of June, investors fear that as many as 100,000 small businesses could fold by the end of this year, and consumers are likely to face higher prices and fewer choices as early as July.
Week Ahead
In the week ahead, investors are looking ahead to the monthly budget statement, inflation data, and housing market activity reports.
Producer prices, retail sales, jobless claims, industrial production, and business inventories are on tap to be released on Thursday.
Building permits, housing starts, export and import prices, and foreign bond investment are scheduled to be released on Friday.
On the earnings front, investors are anticipating quarterly updates from more than 300 companies, including results from Cisco Systems, NRG Energy, Simon Property, JD.com, Walmart, Alibaba Group, Deere & Co., Applied Materials, Ross Stores, and Bath & Body Works.
Commodities, Currencies, Indexes, Yields
The S&P 500 index increased 0.3% to 5,681.39, the Nasdaq Composite edged up 0.6% to 18,035.09, and the Russell 2000 index advanced 0.3% to 2,032.94.
The yield on 2-year Treasury notes edged lower to 3.88%, 10-year Treasury notes decreased to 4.37%, and 30-year Treasury bonds advanced to 4.86%.
WTI crude oil increased $0.68 to $60.60 a barrel, and natural gas prices edged higher by $0.14 to $3.73 a thermal unit.
Gold increased by $15.01 to $3,331.42 an ounce, and silver edged up by $0.11 to $32.54.
The dollar index, which weighs the US currency against a basket of foreign currencies, decreased by 0.28 to 100.36, and it traded at the lowest level since April 2022.
U.S. Movers
Lyft Inc. soared 21.4% to $15.83, and the ride-hailing service provider said net income swung to a profit in the latest quarter.
Revenue in the first quarter increased 14% to $1.45 billion, net income was $2.57 million from a loss of $31.54 million, and diluted earnings per share swung to a profit of 1 cent from a loss of 8 cents.
The company's board authorized expanding the stock buyback program to $750 million from $500 million.
Expedia Group Inc. declined 8.2% to $155.09, and the travel and booking platform operator reported mixed results in the first quarter.
Revenue edged up to $2.99 billion from $2.89 billion, net loss widened to $200 million from a loss of $135 million, and diluted loss per share expanded to $1.56 from a loss of 99 cents a year ago.
Adjusted earnings, after excluding certain one-time items, were 40 cents per share, ahead of market expectations of 32 cents.
The company repurchased approximately 1.7 million shares for $330 million during the quarter and paid a quarterly dividend of 40 cents per share on March 27.
Monster Beverage Corp. increased 1.8% to $61.23, and the energy drink maker reported weaker-than-expected quarterly results.
Revenue in the first quarter declined 2.3% to $1.85 billion from $1.9 billion, net income was nearly flat at $442.9 million, and diluted earnings per share eased to $8.51 from $8.59 a year ago.
The beverage company said energy drink case sales increased to $213,100 from $211,430 a year ago.
U.S. Market Rally Halts Amid Growing Skepticism About US-China Trade Talks
Scott Peters
09 May, 2025
New York City
Wall Street indexes lacked direction in Friday's trading as investors reviewed the latest batch of earnings.
The S&P 500 index edged down 0.1%, and the Nasdaq Composite inched lower 0.2% ahead of US-China trade talks this weekend in Switzerland.
Investors are anticipating talks to yield results, reflecting a view that China has sharply reduced its reliance on the U.S. market over the last ten years.
Despite the increase in tariffs during the first Trump administration, China's exports jumped more than 50% between 2016 and 2020. Moreover, the share of direct shipments to the U.S. declined from as high as 25% to below 19% in the period.
China's manufacturing companies have expanded their production bases to Mexico, Vietnam, Thailand, Bangladesh, and ASEAN-member nations, avoiding high tariffs on direct shipments from China.
However, that strategy of diversifying the supply base by the Chinese companies is under severe strain under the new tariff regime proposed by the current Trump administration.
If a trade agreement is not struck by the end of June, investors fear that as many as 100,000 small businesses could fold by the end of this year, and consumers are likely to face higher prices and fewer choices as early as July.
Week Ahead
In the week ahead, investors are looking ahead to the monthly budget statement, inflation data, and housing market activity reports.
Producer prices, retail sales, jobless claims, industrial production, and business inventories are on tap to be released on Thursday.
Building permits, housing starts, export and import prices, and foreign bond investment are scheduled to be released on Friday.
On the earnings front, investors are anticipating quarterly updates from more than 300 companies, including results from Cisco Systems, NRG Energy, Simon Property, JD.com, Walmart, Alibaba Group, Deere & Co., Applied Materials, Ross Stores, and Bath & Body Works.
Commodities, Currencies, Indexes, Yields
The S&P 500 index increased 0.3% to 5,681.39, the Nasdaq Composite edged up 0.6% to 18,035.09, and the Russell 2000 index advanced 0.3% to 2,032.94.
The yield on 2-year Treasury notes edged lower to 3.88%, 10-year Treasury notes decreased to 4.37%, and 30-year Treasury bonds advanced to 4.86%.
WTI crude oil increased $0.68 to $60.60 a barrel, and natural gas prices edged higher by $0.14 to $3.73 a thermal unit.
Gold increased by $15.01 to $3,331.42 an ounce, and silver edged up by $0.11 to $32.54.
The dollar index, which weighs the US currency against a basket of foreign currencies, decreased by 0.28 to 100.36, and it traded at the lowest level since April 2022.
U.S. Movers
Lyft Inc. soared 21.4% to $15.83, and the ride-hailing service provider said net income swung to a profit in the latest quarter.
Revenue in the first quarter increased 14% to $1.45 billion, net income was $2.57 million from a loss of $31.54 million, and diluted earnings per share swung to a profit of 1 cent from a loss of 8 cents.
The company's board authorized expanding the stock buyback program to $750 million from $500 million.
Expedia Group Inc. declined 8.2% to $155.09, and the travel and booking platform operator reported mixed results in the first quarter.
Revenue edged up to $2.99 billion from $2.89 billion, net loss widened to $200 million from a loss of $135 million, and diluted loss per share expanded to $1.56 from a loss of 99 cents a year ago.
Adjusted earnings, after excluding certain one-time items, were 40 cents per share, ahead of market expectations of 32 cents.
The company repurchased approximately 1.7 million shares for $330 million during the quarter and paid a quarterly dividend of 40 cents per share on March 27.
Monster Beverage Corp. increased 1.8% to $61.23, and the energy drink maker reported weaker-than-expected quarterly results.
Revenue in the first quarter declined 2.3% to $1.85 billion from $1.9 billion, net income was nearly flat at $442.9 million, and diluted earnings per share eased to $8.51 from $8.59 a year ago.
The beverage company said energy drink case sales increased to $213,100 from $211,430 a year ago.
Positive Earnings Support Weekly Advances In Europe, Investors Look for Details of US-UK Trade Deal
Bridgette Randall
09 May, 2025
London
European markets extended weekly gains on Friday as investors reviewed the latest batch of positive earnings.
Benchmark indexes in Frankfurt, Paris, Milan, and London advanced amid optimism about the corporate earnings outlook.
IAG, the parent company of British Airways, reiterated its full-year outlook and cited strong demand for its premium travel services.
In addition, the Trump administration announced a "trade deal" has been struck with the UK but failed to provide details of import tax levels, scope of goods covered by the tariff program, and timetable.
After a week of choppy trading, benchmark indexes in Frankfurt advanced 1.7%, in Paris rose 0.3%, and in London edged up 0.7%.
Europe Indexes and Yields
The DAX index increased by 0.6% to 23,500.47, the CAC-40 index edged higher by 0.7% to 7,746.59, and the FTSE 100 index advanced 0.4% to 8,562.13.
The yield on 10-year German bonds inched higher to 2.57%, French bonds increased to 3.27%, the UK gilts moved up to 4.59%, and Italian bonds edged higher to 3.62%.
The euro increased to $1.12; the British pound was higher at $1.32; and the U.S. dollar was lower and traded at 83.04 Swiss cents.
Brent crude increased $0.52 to $63.36 a barrel, and the Dutch TTF natural gas was higher by €0.09 to €35.72 per MWh.
Europe Movers
Krones AG rose 3.8% to €139.60, and the packaging and bottling machine maker reported a 15% jump in profit in the first quarter.
Sonova Holding AG jumped 3.5% to CHF 259.40, and the Switzerland-based hearing care product maker estimated higher sales and earnings in the fiscal year 2026.
Commerzbank AG advanced 2% to €24.80 after the German bank reported a record quarterly profit.
International Consolidated Airlines Group soared 3.4% to 300.10 pence, and the parent company of British Airways and Iberia Airlines reported better-than-expected results in the first quarter and reiterated its full-year outlook, citing strong demand for its premium services.
Revenue in the first quarter increased 9.6%, and operating profit before exceptional items increased by €130 million to €198 million, and lower fuel prices offset the other cost increases.
In addition, the company said it ordered 71 new wide-body aircraft.
Positive Earnings Support Weekly Advances In Europe, Investors Look for Details of US-UK Trade Deal
Bridgette Randall
09 May, 2025
London
European markets extended weekly gains on Friday as investors reviewed the latest batch of positive earnings.
Benchmark indexes in Frankfurt, Paris, Milan, and London advanced amid optimism about the corporate earnings outlook.
IAG, the parent company of British Airways, reiterated its full-year outlook and cited strong demand for its premium travel services.
In addition, the Trump administration announced a "trade deal" has been struck with the UK but failed to provide details of import tax levels, scope of goods covered by the tariff program, and timetable.
After a week of choppy trading, benchmark indexes in Frankfurt advanced 1.7%, in Paris rose 0.3%, and in London edged up 0.7%.
Europe Indexes and Yields
The DAX index increased by 0.6% to 23,500.47, the CAC-40 index edged higher by 0.7% to 7,746.59, and the FTSE 100 index advanced 0.4% to 8,562.13.
The yield on 10-year German bonds inched higher to 2.57%, French bonds increased to 3.27%, the UK gilts moved up to 4.59%, and Italian bonds edged higher to 3.62%.
The euro increased to $1.12; the British pound was higher at $1.32; and the U.S. dollar was lower and traded at 83.04 Swiss cents.
Brent crude increased $0.52 to $63.36 a barrel, and the Dutch TTF natural gas was higher by €0.09 to €35.72 per MWh.
Europe Movers
Krones AG rose 3.8% to €139.60, and the packaging and bottling machine maker reported a 15% jump in profit in the first quarter.
Sonova Holding AG jumped 3.5% to CHF 259.40, and the Switzerland-based hearing care product maker estimated higher sales and earnings in the fiscal year 2026.
Commerzbank AG advanced 2% to €24.80 after the German bank reported a record quarterly profit.
International Consolidated Airlines Group soared 3.4% to 300.10 pence, and the parent company of British Airways and Iberia Airlines reported better-than-expected results in the first quarter and reiterated its full-year outlook, citing strong demand for its premium services.
Revenue in the first quarter increased 9.6%, and operating profit before exceptional items increased by €130 million to €198 million, and lower fuel prices offset the other cost increases.
In addition, the company said it ordered 71 new wide-body aircraft.
U.S. Movers: Cloudflare, Expedia, HubSpot, MercadoLibre, Shopify, Trade Desk
Scott Peters
09 May, 2025
New York City
Shopify Inc. eased 0.4% to $93.61 after the Canada-based e-commerce company reported first-quarter 2025 results.
Revenue edged up to $2.36 billion from $1.86 billion, net loss expanded to $682 million from a loss of $273 million, and diluted loss per share widened to 53 cents from a loss of 21 cents a year ago.
The company said free cash flow came in at $363 million, compared to $232 million a year earlier.
Shopify guided second-quarter revenue to grow at a mid-twenties percentage rate from $2.0 billion a year ago and free cash flow margin to be in the mid-teens, similar to the first quarter of 2025.
During the first quarter, operating income jumped to $203 million from $86 million, and net income excluding the impact of equity investments rose to $226 million from $144 million a year ago.
MercadoLibre Inc. advanced 6.5% to $2,420 after the Argentinian e-commerce and financial services company reported first-quarter 2025 results.
Revenue jumped to $5.93 billion from $4.33 billion, net income edged up to $494 million from $344 million, and diluted earnings per share rose to $9.74 from $6.78 a year ago.
The company said total payment volume in the quarter rose 43% to $58.3 billion and gross merchandise volume increased 17% to $13.3 billion from a year earlier.
Cloudflare Inc. surged 8.4% to $134.70 after the cybersecurity and network services provider reported higher sales in the first quarter of 2025.
Revenue increased to $479.09 million from $378.60 million, net loss widened to $38.45 million from a loss of $35.54 million, and diluted loss per share expanded to 11 cents from a loss of 10 cents a year ago.
The company guided second-quarter revenue to be between $500.0 million and $501.0 million, compared to $401.0 million in 2024; non-GAAP income between $62.5 million and $63.5 million, compared to $69.5 million; and non-GAAP net income per share of 18 cents, compared to 20 cents in the prior year.
For the full year, Cloudflare estimated revenue to be between $2.090 billion and $2.094 billion, compared to $1.67 billion in 2024; non-GAAP income from operations between $272.0 million and $276.0 million, compared to $230.1 million; and non-GAAP net income per share between 79 cents and 80 cents, compared to 75 cents a year ago.
HubSpot Inc. dropped 5.3% to $625.05 after the customer service software provider reported first-quarter 2025 results.
Revenue edged up to $714.14 million from $617.41 million, net income swung to a loss of $21.79 million from a profit of $5.93 million, and diluted earnings per share swung to a loss of 42 cents from a profit of 12 cents a year ago.
The company authorized a share repurchase program for up to $500.0 million over a period of up to 12 months.
HubSpot guided second-quarter revenue to be between $738.0 million and $740.0 million, compared to $637.2 million in 2024; non-GAAP operating income between $124.0 million and $125.0 million, compared to $109.3 million; and non-GAAP net income per share between $2.10 and $2.12, compared to $1.94 in the prior year.
For the full year, the company estimated revenue to be between $3.036 billion and $3.044 billion, compared to $2.63 billion in 2024; non-GAAP operating income between $558.0 million and $562.0 million, compared to $460.2 million; and non-GAAP net income per common share between $9.29 and $9.37, compared to $8.12 a year ago.
Trade Desk Inc. advanced 10.9% to $66.42 after the advertising technology company reported sharply higher sales in the first quarter of 2025.
Revenue jumped to $616.02 million from $491.25 million, net income climbed to $50.68 million from $31.66 million, and diluted earnings per share rose to 10 cents from 6 cents a year ago.
The company said Warner Bros. Discovery has recently integrated its OpenPath product to drive more direct, transparent, and efficient demand to its news properties.
During the quarter, TradeDesk used $386 million of cash to repurchase shares, and as of March 31, the company had $631 million available under authorization.
The company estimated second-quarter revenue to be at least $682 million, compared to $585 million in 2024, and adjusted EBITDA of approximately $259 million, compared to $242 million a year ago.
Expedia Inc. plunged 7.4% to $156.50 after the travel technology company released first-quarter 2025 results.
Revenue edged up to $2.99 billion from $2.89 billion, net loss widened to $200 million from a loss of $135 million, and diluted loss per share expanded to $1.56 from a loss of 99 cents a year ago.
The company repurchased approximately 1.7 million shares for $330 million during the quarter and paid a quarterly dividend of 40 cents per share on March 27.
“We posted first quarter bookings and revenue within our guidance range despite weaker than expected demand in the US,” the company said in a release to investors.
The number of booked room nights increased 6% in the quarter to 107.7 million from 101.2 million a year earlier.
Expedia guided second-quarter and full-year gross bookings to increase between 2% and 4% from a year ago, and the company also expects second-quarter revenue to grow between 3% and 5% and full-year revenue to increase by 2% to 4% from the same period in 2024.
U.S. Movers: Cloudflare, Expedia, HubSpot, MercadoLibre, Shopify, Trade Desk
Scott Peters
09 May, 2025
New York City
Shopify Inc. eased 0.4% to $93.61 after the Canada-based e-commerce company reported first-quarter 2025 results.
Revenue edged up to $2.36 billion from $1.86 billion, net loss expanded to $682 million from a loss of $273 million, and diluted loss per share widened to 53 cents from a loss of 21 cents a year ago.
The company said free cash flow came in at $363 million, compared to $232 million a year earlier.
Shopify guided second-quarter revenue to grow at a mid-twenties percentage rate from $2.0 billion a year ago and free cash flow margin to be in the mid-teens, similar to the first quarter of 2025.
During the first quarter, operating income jumped to $203 million from $86 million, and net income excluding the impact of equity investments rose to $226 million from $144 million a year ago.
MercadoLibre Inc. advanced 6.5% to $2,420 after the Argentinian e-commerce and financial services company reported first-quarter 2025 results.
Revenue jumped to $5.93 billion from $4.33 billion, net income edged up to $494 million from $344 million, and diluted earnings per share rose to $9.74 from $6.78 a year ago.
The company said total payment volume in the quarter rose 43% to $58.3 billion and gross merchandise volume increased 17% to $13.3 billion from a year earlier.
Cloudflare Inc. surged 8.4% to $134.70 after the cybersecurity and network services provider reported higher sales in the first quarter of 2025.
Revenue increased to $479.09 million from $378.60 million, net loss widened to $38.45 million from a loss of $35.54 million, and diluted loss per share expanded to 11 cents from a loss of 10 cents a year ago.
The company guided second-quarter revenue to be between $500.0 million and $501.0 million, compared to $401.0 million in 2024; non-GAAP income between $62.5 million and $63.5 million, compared to $69.5 million; and non-GAAP net income per share of 18 cents, compared to 20 cents in the prior year.
For the full year, Cloudflare estimated revenue to be between $2.090 billion and $2.094 billion, compared to $1.67 billion in 2024; non-GAAP income from operations between $272.0 million and $276.0 million, compared to $230.1 million; and non-GAAP net income per share between 79 cents and 80 cents, compared to 75 cents a year ago.
HubSpot Inc. dropped 5.3% to $625.05 after the customer service software provider reported first-quarter 2025 results.
Revenue edged up to $714.14 million from $617.41 million, net income swung to a loss of $21.79 million from a profit of $5.93 million, and diluted earnings per share swung to a loss of 42 cents from a profit of 12 cents a year ago.
The company authorized a share repurchase program for up to $500.0 million over a period of up to 12 months.
HubSpot guided second-quarter revenue to be between $738.0 million and $740.0 million, compared to $637.2 million in 2024; non-GAAP operating income between $124.0 million and $125.0 million, compared to $109.3 million; and non-GAAP net income per share between $2.10 and $2.12, compared to $1.94 in the prior year.
For the full year, the company estimated revenue to be between $3.036 billion and $3.044 billion, compared to $2.63 billion in 2024; non-GAAP operating income between $558.0 million and $562.0 million, compared to $460.2 million; and non-GAAP net income per common share between $9.29 and $9.37, compared to $8.12 a year ago.
Trade Desk Inc. advanced 10.9% to $66.42 after the advertising technology company reported sharply higher sales in the first quarter of 2025.
Revenue jumped to $616.02 million from $491.25 million, net income climbed to $50.68 million from $31.66 million, and diluted earnings per share rose to 10 cents from 6 cents a year ago.
The company said Warner Bros. Discovery has recently integrated its OpenPath product to drive more direct, transparent, and efficient demand to its news properties.
During the quarter, TradeDesk used $386 million of cash to repurchase shares, and as of March 31, the company had $631 million available under authorization.
The company estimated second-quarter revenue to be at least $682 million, compared to $585 million in 2024, and adjusted EBITDA of approximately $259 million, compared to $242 million a year ago.
Expedia Inc. plunged 7.4% to $156.50 after the travel technology company released first-quarter 2025 results.
Revenue edged up to $2.99 billion from $2.89 billion, net loss widened to $200 million from a loss of $135 million, and diluted loss per share expanded to $1.56 from a loss of 99 cents a year ago.
The company repurchased approximately 1.7 million shares for $330 million during the quarter and paid a quarterly dividend of 40 cents per share on March 27.
“We posted first quarter bookings and revenue within our guidance range despite weaker than expected demand in the US,” the company said in a release to investors.
The number of booked room nights increased 6% in the quarter to 107.7 million from 101.2 million a year earlier.
Expedia guided second-quarter and full-year gross bookings to increase between 2% and 4% from a year ago, and the company also expects second-quarter revenue to grow between 3% and 5% and full-year revenue to increase by 2% to 4% from the same period in 2024.
Europe Movers: Amadeus IT, Rheinmetall, Securitas
Inga Muller
09 May, 2025
Frankfurt
Securitas AB plunged 6.4% to 139.55 krona after the Swedish security services provider reported first-quarter 2025 results.
Total sales increased to SEK 39.61 billion from SEK 39.26 billion, operating income climbed to SEK 2.52 billion from SEK 2.36 billion, and earnings per share jumped to SEK 2.29 from SEK 1.84 a year ago.
“The business optimization program initiated at the start of the year is on track to achieve SEK 200 million in annualized savings by the end of 2025,” the company said in a release to investors.
Rheinmetall AG surged 2.7% to €1,677.50 after the German vehicle and defense company reported first-quarter 2025 results.
Sales edged up to €2.30 billion from €1.58 billion, earnings after taxes jumped to €84 million from €48 million, and diluted earnings per share rose to €1.91 from €1.10 a year ago.
The company guided full-year sales to grow between 25% and 30%, compared to €9.75 billion in 2024, with all its business segments expected to register double-digit growth in 2025.
Amadeus IT Group SA dropped 3.8% to €67.62 after the Spanish travel-related software provider reported first-quarter 2025 results.
Revenue climbed 9.1% to €1.63 billion from €1.50 billion, profit edged up 13.3% to €355.3 million from €313.6 million, and diluted earnings per share rose 13.3% to 79 cents from 70 cents a year ago.
The company guided full-year revenue at constant currency to be between €6.60 billion and €6.84 billion, an increase of 7.4% to 11.4% from €6.14 billion in the prior year.
Full-year EBITDA is estimated to be between €2.46 billion and €2.58 billion, an increase of 5.7% to 11.0% from €2.33 billion a year earlier.
Europe Movers: Amadeus IT, Rheinmetall, Securitas
Inga Muller
09 May, 2025
Frankfurt
Securitas AB plunged 6.4% to 139.55 krona after the Swedish security services provider reported first-quarter 2025 results.
Total sales increased to SEK 39.61 billion from SEK 39.26 billion, operating income climbed to SEK 2.52 billion from SEK 2.36 billion, and earnings per share jumped to SEK 2.29 from SEK 1.84 a year ago.
“The business optimization program initiated at the start of the year is on track to achieve SEK 200 million in annualized savings by the end of 2025,” the company said in a release to investors.
Rheinmetall AG surged 2.7% to €1,677.50 after the German vehicle and defense company reported first-quarter 2025 results.
Sales edged up to €2.30 billion from €1.58 billion, earnings after taxes jumped to €84 million from €48 million, and diluted earnings per share rose to €1.91 from €1.10 a year ago.
The company guided full-year sales to grow between 25% and 30%, compared to €9.75 billion in 2024, with all its business segments expected to register double-digit growth in 2025.
Amadeus IT Group SA dropped 3.8% to €67.62 after the Spanish travel-related software provider reported first-quarter 2025 results.
Revenue climbed 9.1% to €1.63 billion from €1.50 billion, profit edged up 13.3% to €355.3 million from €313.6 million, and diluted earnings per share rose 13.3% to 79 cents from 70 cents a year ago.
The company guided full-year revenue at constant currency to be between €6.60 billion and €6.84 billion, an increase of 7.4% to 11.4% from €6.14 billion in the prior year.
Full-year EBITDA is estimated to be between €2.46 billion and €2.58 billion, an increase of 5.7% to 11.0% from €2.33 billion a year earlier.
Japan's Real Household Spending Decline Second Consecutive Year, Shipping Companies Estimate Sharp Plunge In Profit
Akira Ito
09 May, 2025
Tokyo
Japan's market indexes advanced in Friday's trading and extended weekly gains following a key economic report on personal spending and real wages.
The Nikkei 225 Stock Average gained more than 1%, and the broader Topix advanced nearly 1.5%, and indexes traded near six-week highs.
Japan's nominal cash earnings in March increased at a slower pace of 2.1% from the revised 2.7% increase in February, according to the latest data available from the Statistics Bureau of Japan.
Nominal wages per worker, including base and overtime payments, increased 2.1% to 308,572 yen, according to a report by the Ministry of Health, Labor, and Welfare.
Real wages, after adjusting for inflation, declined 2.0% from a year ago, denting the consumer's appetite.
Japan's household spending in March rose 2.1% from a year ago in real terms to 339,232 yen, driven by higher electric bills and a rise in tuition fees for private universities.
The two separate reports calculated real wage and spending data by adjusting nominal figures with the consumer price inflation of 4.1% in March, lower than the 4.3% rate in February.
Investors remained skeptical about the trade deal between the U.S. and UK, as few details were available after the White House announcement.
About 3% of the U.S.'s total imports arrive from the U.K., and the average tariffs paid by the U.S. importers amount to less than 2%.
However, the U.S. president claimed that the UK's imports would be slapped with higher tariffs of 10%, and the Trump administration agreed to drop the proposed 25% tariffs on British steel and aluminum to zero.
For now, the U.S. proposed to limit tariffs to 10% on the first 100,000 automobiles imported from the U.K., and the U.S. is the top destination for British passenger cars worth about £9 billion.
Japan Indexes and Stocks
The Nikkei 225 Stock Average advanced 1.6% to 37,516.70, and the broader Topix index gained 1.4% to 2,735.39.
Japan's three leading shipping companies traded down after they estimated a sharp decline in earnings in the current fiscal year.
The shipping companies confirmed that the Trump administration's tariffs are having negative impacts on shipping volume and freight rates.
Net income at Nippon Yusen is likely to fall 47.7% to 250 billion yen, at Kawasaki Kisen Kaisha to plunge 67.3% to 100 billion yen, and at Mitsui O.S.K. Lines to shrink by 60% to 170 billion yen.
Nippon Yusen decreased 1.1% to ¥4,838.0, Kawasaki Kisen Kaisha dropped 0.7% to ¥1,999.50, and Mitsui O.S.K. Lines rose 1% to ¥4,629.0.
Japan's Real Household Spending Declined Second Consecutive Year, Shipping Companies Estimate Sharp Plunge In Profit
Akira Ito
09 May, 2025
Tokyo
Japan's market indexes advanced in Friday's trading and extended weekly gains following a key economic report on personal spending and real wages.
The Nikkei 225 Stock Average gained more than 1%, and the broader Topix advanced nearly 1.5%, and indexes traded near six-week highs.
Japan's nominal cash earnings in March increased at a slower pace of 2.1% from the revised 2.7% increase in February, according to the latest data available from the Statistics Bureau of Japan.
Nominal wages per worker, including base and overtime payments, increased 2.1% to 308,572 yen, according to a report by the Ministry of Health, Labor, and Welfare.
Real wages, after adjusting for inflation, declined 2.0% from a year ago, denting the consumer's appetite.
Japan's household spending in March rose 2.1% from a year ago in real terms to 339,232 yen, driven by higher electric bills and a rise in tuition fees for private universities.
The two separate reports calculated real wage and spending data by adjusting nominal figures with the consumer price inflation of 4.1% in March, lower than the 4.3% rate in February.
Investors remained skeptical about the trade deal between the U.S. and UK, as few details were available after the White House announcement.
About 3% of the U.S.'s total imports arrive from the U.K., and the average tariffs paid by the U.S. importers amount to less than 2%.
However, the U.S. president claimed that the UK's imports would be slapped with higher tariffs of 10%, and the Trump administration agreed to drop the proposed 25% tariffs on British steel and aluminum to zero.
For now, the U.S. proposed to limit tariffs to 10% on the first 100,000 automobiles imported from the U.K., and the U.S. is the top destination for British passenger cars worth about £9 billion.
Japan Indexes and Stocks
The Nikkei 225 Stock Average advanced 1.6% to 37,516.70, and the broader Topix index gained 1.4% to 2,735.39.
Japan's three leading shipping companies traded down after they estimated a sharp decline in earnings in the current fiscal year.
The shipping companies confirmed that the Trump administration's tariffs are having negative impacts on shipping volume and freight rates.
Net income at Nippon Yusen is likely to fall 47.7% to 250 billion yen, at Kawasaki Kisen Kaisha to plunge 67.3% to 100 billion yen, and at Mitsui O.S.K. Lines to shrink by 60% to 170 billion yen.
Nippon Yusen decreased 1.1% to ¥4,838.0, Kawasaki Kisen Kaisha dropped 0.7% to ¥1,999.50, and Mitsui O.S.K. Lines rose 1% to ¥4,629.0.
China Indexes Trimmed Weekly Gains Amid Low Expectations On US Trade Talks
Li Chen
09 May, 2025
Hong Kong
Stocks in China and Hong Kong headed lower on Friday and extended weekly gains ahead of US-China trade talks.
The Hang Seng index inched down a fraction, and the CSI 300 index declined 0.2%, and investors booked profit, halting a six-day rally.
Chinese Vice-Premier He Lifeng and U.S. Secretary Scot Bessent are scheduled to start trade talks in Switzerland this weekend.
Despite the Trump administration's repeated denials, the U.S. requested China to hold talks and de-escalate self-imposed sky-high tariffs on imports from China.
The U.S. president announced a "trade deal" with the U.K., but the announcement lacked details and specific levels of duties on goods and services.
Investors largely ignored the vague deal with the UK, and talks with China are likely to yield few results, just as talks with Japan ended inconclusively after two rounds of talks.
Over the week, the Hang Seng index gained 2.7%, and the CSI 300 advanced 1.8% after the People's Bank of China and the China Securities Regulatory Commission announced measures to shore up consumer confidence and stabilize financial markets.
China Indexes and Stocks
The Hang Seng index edged down to 22,775.72, and the CSI index decreased 0.2% to 3,843.98.
Alibaba Group Holding increased 1.2% to HK $122.90, Tencent Holdings decreased 0.6% to $495.0, and Baidu Inc. declined 1% to HK $84.10.
China Indexes Trimmed Weekly Gains Amid Low Expectations On US Trade Talks
Li Chen
09 May, 2025
Hong Kong
Stocks in China and Hong Kong headed lower on Friday and extended weekly gains ahead of US-China trade talks.
The Hang Seng index inched down a fraction, and the CSI 300 index declined 0.2%, and investors booked profit, halting a six-day rally.
Chinese Vice-Premier He Lifeng and U.S. Secretary Scot Bessent are scheduled to start trade talks in Switzerland this weekend.
Despite the Trump administration's repeated denials, the U.S. requested China to hold talks and de-escalate self-imposed sky-high tariffs on imports from China.
The U.S. president announced a "trade deal" with the U.K., but the announcement lacked details and specific levels of duties on goods and services.
Investors largely ignored the vague deal with the UK, and talks with China are likely to yield few results, just as talks with Japan ended inconclusively after two rounds of talks.
Over the week, the Hang Seng index gained 2.7%, and the CSI 300 advanced 1.8% after the People's Bank of China and the China Securities Regulatory Commission announced measures to shore up consumer confidence and stabilize financial markets.
China Indexes and Stocks
The Hang Seng index edged down to 22,775.72, and the CSI index decreased 0.2% to 3,843.98.
Alibaba Group Holding increased 1.2% to HK $122.90, Tencent Holdings decreased 0.6% to $495.0, and Baidu Inc. declined 1% to HK $84.10.