India Movers: Astec Lifesciences, Nestle, Hindustan Unilever, Mphasis, L&T Technology, Tech Mahindra, Elecon Engineering, Persistent

Arun Goswami
25 Apr, 2025
Mumbai

Astec Lifesciences Ltd. dropped 3.6% to ₹712.35 after the agrochemicals and pharmaceutical intermediates manufacturer reported a sharp jump in losses in the fiscal fourth quarter.

Consolidated revenue decreased to ₹120.3 crore from ₹155.8 crore, net loss jumped to ₹16.1 crore from ₹1 crore, and diluted losses per share advanced to ₹8.20 from 50 paise a year ago.

For the fiscal year 2025, revenue declined to ₹386.9 crore from ₹463.8 crore, after-tax profit expanded to ₹134.7 crore from ₹46.9 crore, and diluted earnings per share rose to ₹68.71 from ₹23.93 a year ago.

Nestle India Ltd. rose 0.03% to ₹2,434.80 despite the food and beverage company reporting a 7% decrease in quarterly profit from a year ago.

Consolidated revenue in the March quarter increased to ₹5,512.3 crore from ₹5,294.3 crore, and after-tax profit edged down to ₹873.4 crore from ₹934.2 crore, and diluted earnings per share fell to ₹9.06 from ₹9.69 a year ago.

For the fiscal year 2025, revenue declined to ₹20,260.4 crore from ₹24,541.8 crore, after-tax profit dropped to ₹3,207.6 crore from ₹3,932.8 crore, and diluted earnings per share decreased to ₹33.27 from ₹40.79 a year ago.

The company's board recommended a final dividend of ₹30 per share.

Hindustan Unilever Limited edged down 4% to ₹2,325.25 after the consumer goods company reported a slight increase in revenue and a marginal decline in net income in the March quarter.

Consolidated revenue in the March quarter increased to ₹15,979 crore from ₹15,441 crore, and after-tax profit dropped to ₹2,475 crore from ₹2,561 crore, and diluted earnings per share fell to ₹10.48 from ₹12.70 a year ago.

For the fiscal year 2025, revenue in the March quarter inched higher to ₹64,138 crore from ₹62,707 crore, and after-tax profit advanced to ₹10,671 crore from ₹10,282 crore, and diluted earnings per share rose to ₹45.32 from ₹43.74 a year ago.

The company's board recommended a final dividend of ₹24 per share.

Mphasis Ltd. gained 2.1% to ₹2,518.40 after the tech services and consulting company reported an increase in revenue and earnings in the latest quarter.

Consolidated revenue in the March quarter advanced to ₹3,769.9 crore from ₹3,476.2 crore, and after-tax profit inched higher to ₹446.5 crore from ₹393.2 crore, and diluted earnings per share expanded to ₹23.41 from ₹20.65 a year ago.

For the fiscal year 2025, revenue edged higher to ₹14,485 crore from ₹13,496.3 crore, after-tax profit soared to ₹1,702.1 crore from ₹1,554.8 crore, and diluted earnings per share increased to ₹89.36 from ₹81.83 a year ago.

The company's board recommended a dividend of ₹57 per share.

L&T Technology Services Ltd. declined 5.1% to ₹4,251.00 despite the engineering and technology services reporting a 9% increase in net income in the fiscal fourth quarter.

Consolidated revenue in the March quarter increased to ₹3,031.7 crore from ₹2,593.5 crore, and after-tax profit advanced to ₹310.2 crore from ₹341.4 crore, and diluted earnings per share soared to ₹29.32 from ₹32.16 a year ago.

For the fiscal year 2025, revenue increased to ₹10,880 crore from ₹9,854.6 crore, after-tax profit edged down to ₹1,263.5 crore from ₹1,306.3 crore, and diluted earnings per share fell to ₹119.44 from ₹123 a year ago.

The company's board recommended a final dividend of ₹38 per share.

Tech Mahindra Ltd. fell 1.7% to ₹1,421.80 despite the tech-enabled services provider reporting a 72% jump in its earnings in the March quarter.

Consolidated revenue in the March quarter edged up to ₹13,556.7 crore from ₹13,244.8 crore, and after-tax profit inched higher to ₹1,141.9 crore from ₹664.2 crore, and diluted earnings per share expanded to ₹13.15 from ₹7.45 a year ago.

For the fiscal year 2025, revenue edged higher to ₹53,843.7 crore from ₹52,912.4 crore, after-tax profit increased to ₹4,253 crore from ₹2,396.8 crore, and diluted earnings per share soared to ₹47.91 from ₹26.58 a year ago.

The company's board recommended a final dividend of ₹30 per share.

Elecon Engineering Co. Ltd. dropped 3.7% to ₹520 after the industrial gearboxes manufacturer reported a 41% rise in its earnings in the latest quarter.

Consolidated revenue in the March quarter advanced to ₹816.2 crore from ₹577.7 crore, and after-tax profit inched higher to ₹146.5 crore from ₹103.7 crore, and diluted earnings per share expanded to ₹6.53 from ₹4.62 a year ago.

For the fiscal year 2025, revenue edged higher to ₹2,287 crore from ₹1,881.5 crore, after-tax profit soared to ₹415.1 crore from ₹355.6 crore, and diluted earnings per share increased to ₹18.50 from ₹15.85 a year ago.

The company's board recommended a final dividend of ₹1.5 per share.

Persistent Systems Ltd. gained 2.8% to ₹4,834 after the technology services provider reported a 28% rise in net income in the latest quarter.

Consolidated revenue in the March quarter inched higher to ₹3,260.4 crore from ₹2,621.3 crore, and after-tax profit advanced to ₹395.7 crore from ₹315.3 crore, and diluted earnings per share rose to ₹25.39 from ₹20.48 a year ago.

For the fiscal year 2025, revenue edged higher to ₹12,076.8 crore from ₹9,949.6 crore, after-tax profit jumped to ₹1,400 crore from ₹1,093.4 crore, and diluted earnings per share soared to ₹90.24 from ₹10 a year ago.

Tokyo-area Inflation Acceleration Suggests Arrival of Sustainable Inflation, Nikkei Jumps Weekly 3%

Akira Ito
25 Apr, 2025
Tokyo

Stock market indexes in Tokyo advanced for the third consecutive session and extended their weekly rise, tracking gains in overnight trading on Wall Street. 

The Nikkei 225 Stock Average jumped nearly 2%, and the broader Topix index advanced 1.4%. 

Investors bid up stocks in Tokyo following gains on Wall Street in hopes that the U.S. Federal Reserve may consider a rate cut at the next policy meeting if the economic growth weakens and the job market is hurt after the introduction of stiff tariffs. 

Fed Governor Christopher Wallace and Cleveland Fed President Beth Hammack separately commented in support of the possible rate cut at the end of the policy meeting in June. 

Closer to home, the Tokyo area's core inflation rate accelerated to 3.4% from 2.4% in March. according to a report released by the Statistics Bureau of Japan. 

The overall inflation accelerated to an annual pace of 3.5% from 2.9% in the previous month, amid broad-based inflation and a surge in services prices. 

Market participants were anticipating inflation to accelerate after the lowering of government subsidies for energy and electric utilities, along with a wave of price increases on more than 2,300 food items on April 1. 

Businesses generally reset prices at the start of the new financial year, and the latest price increases were higher than expected, indicating that businesses are finally prepared to pass on higher input costs to consumers. 

With the solid wage increases for the third consecutive year, the sustainable inflation expected by the Bank of Japan is finally getting entrenched in the economy. 

Despite the latest uptick in inflation, the Bank of Japan is expected to keep its short-term interest rate unchanged at 0.5%, amid deteriorating trade terms with the U.S. and slowing economic activities in China. 

The yen edged lower to 143.78 against the U.S. dollar after the release of inflation data. 

Japan Indexes and Stocks 

The Nikkei 225 Stock Average gained 1.8% to 35,677.98, and the broader Topix index advanced 1.4% to 2,628.41.

Tech stocks led the broader market higher for the third consecutive day in a row. 

Tokyo Electron Ltd. increased 3.3% to ¥21,060.0, Advantest Corp. jumped 4.3% to ¥5,986.0, and Disco Corp. jumped 3.2% to ¥28,460.0. 

Mitsubishi UFJ Financial Group added 0.5% to ¥1,729.50, Sumitomo Mitsui Financial Group advanced 0.8% to ¥3,282.0, and Mizuho Financial Group added 0.7% to ¥3,477.0. 

Marubeni Corp. rose 1.3% to ¥2,496.0, Itochu Corp. advanced 1.3% to ¥7,136.0, Mitsubishi Corp. added 0.5% to ¥7,136.0, Sumitomo Corp. increased 1.3% to ¥3,454.0, and Mitsui & Company edged up 1.5% to ¥2,833.0. 

Tokyo-area Inflation Acceleration Suggests Arrival of Sustainable Inflation, Nikkei Jumps Weekly 3%

Akira Ito
25 Apr, 2025
Tokyo

Stock market indexes in Tokyo advanced for the third consecutive session and extended their weekly rise, tracking gains in overnight trading on Wall Street. 

The Nikkei 225 Stock Average jumped nearly 2%, and the broader Topix index advanced 1.4%. 

Investors bid up stocks in Tokyo following gains on Wall Street in hopes that the U.S. Federal Reserve may consider a rate cut at the next policy meeting if the economic growth weakens and the job market is hurt after the introduction of stiff tariffs. 

Fed Governor Christopher Wallace and Cleveland Fed President Beth Hammack separately commented in support of the possible rate cut at the end of the policy meeting in June. 

Closer to home, the Tokyo area's core inflation rate accelerated to 3.4% from 2.4% in March. according to a report released by the Statistics Bureau of Japan. 

The overall inflation accelerated to an annual pace of 3.5% from 2.9% in the previous month, amid broad-based inflation and a surge in services prices. 

Market participants were anticipating inflation to accelerate after the lowering of government subsidies for energy and electric utilities, along with a wave of price increases on more than 2,300 food items on April 1. 

Businesses generally reset prices at the start of the new financial year, and the latest price increases were higher than expected, indicating that businesses are finally prepared to pass on higher input costs to consumers. 

With the solid wage increases for the third consecutive year, the sustainable inflation expected by the Bank of Japan is finally getting entrenched in the economy. 

Despite the latest uptick in inflation, the Bank of Japan is expected to keep its short-term interest rate unchanged at 0.5%, amid deteriorating trade terms with the U.S. and slowing economic activities in China. 

The yen edged lower to 143.78 against the U.S. dollar after the release of inflation data. 

Japan Indexes and Stocks 

The Nikkei 225 Stock Average gained 1.8% to 35,677.98, and the broader Topix index advanced 1.4% to 2,628.41.

Tech stocks led the broader market higher for the third consecutive day in a row. 

Tokyo Electron Ltd. increased 3.3% to ¥21,060.0, Advantest Corp. jumped 4.3% to ¥5,986.0, and Disco Corp. jumped 3.2% to ¥28,460.0. 

Mitsubishi UFJ Financial Group added 0.5% to ¥1,729.50, Sumitomo Mitsui Financial Group advanced 0.8% to ¥3,282.0, and Mizuho Financial Group added 0.7% to ¥3,477.0. 

Marubeni Corp. rose 1.3% to ¥2,496.0, Itochu Corp. advanced 1.3% to ¥7,136.0, Mitsubishi Corp. added 0.5% to ¥7,136.0, Sumitomo Corp. increased 1.3% to ¥3,454.0, and Mitsui & Company edged up 1.5% to ¥2,833.0. 

China Avoids Negotiations with Unpredictable Trump Administration, PBOC Weakens Yuan

Li Chen
25 Apr, 2025
Hong Kong

Stocks in China and Hong Kong advanced on Friday and extended weekly gains amid looming uncertainties about the U.S. trade policy.

The Hang Seng index advanced 1.4%, and the mainland-focused CSI 300 index edged up 0.4%. 

For the week, the Hang Seng index gained 3.8%, and the CSI 300 index added 0.8% as investors stayed on the sidelines ahead of the possible U.S. tariffs as high as 145% starting next week. 

Market sentiment improved in Hong Kong after the U.S. Fed officials commented that interest rates could be lowered in June if the high tariffs dampen economic activities and hurt the job market.  

Fed Governor Christopher Wallace and Cleveland Fed President Beth Hammack separately commented on the possible rate cut outlook. 

Chinese officials in Beijing denied that they are engaged in trade talks with the Trump administration, countering assertions made by Donald Trump. 

The ministries of foreign affairs and commerce reiterated their demands for the removal of unilateral U.S. tariffs and announced measures to halt shipment of rare earth minerals and canceled the purchase of Boeing aircraft. 

The Chinese yuan drifted lower to 7.28 against the U.S. dollar in offshore trading after the People's Bank of China weakened the exchange rate to 7.2098 on Thursday. 

The yuan dropped as low as 7.42 on April 8 after the U.S. slapped unilateral tariffs on Chinese imports. 

China Indexes and Stocks 

The Hang Seng Index rose 1.4% to 22,197.45, and the mainland-focused CSI 300 index advanced 0.4% to 3,797.54. 

Technology stocks led market indexes higher in Friday's trading in the hopes that the HKMA will follow the possible rate decline in the U.S. in June. 

Alibaba Group Holding rose 3.3% to HK $117.70, Tencent Holdings advanced 2.8% to HK $484.20, and Baidu jumped 5.2% to HK $88.70. 

Shenzhou International Group Holdings jumped 2.4% to HK $54.05, NetEase jumped 4.2% to HK $166.90, and SMIC dropped 1.3% to HK $45.75.  

China Avoids Negotiations with Unpredictable Trump Administration

Li Chen
25 Apr, 2025
Hong Kong

Stocks in China and Hong Kong advanced on Friday and extended weekly gains amid looming uncertainties about the U.S. trade policy.

The Hang Seng index advanced 1.4%, and the mainland-focused CSI 300 index edged up 0.4%. 

For the week, the Hang Seng index gained 3.8%, and the CSI 300 index added 0.8% as investors stayed on the sidelines ahead of the possible U.S. tariffs as high as 145% starting next week. 

Market sentiment improved in Hong Kong after the U.S. Fed officials commented that interest rates could be lowered in June if the high tariffs dampen economic activities and hurt the job market.  

Fed Governor Christopher Wallace and Cleveland Fed President Beth Hammack separately commented on the possible rate cut outlook. 

Chinese officials in Beijing denied that they are engaged in trade talks with the Trump administration, countering assertions made by Donald Trump. 

The ministries of foreign affairs and commerce reiterated their demands for the removal of unilateral U.S. tariffs and announced measures to halt shipment of rare earth minerals and canceled the purchase of Boeing aircraft. 

China Indexes and Stocks 

The Hang Seng Index rose 1.4% to 22,197.45, and the mainland-focused CSI 300 index advanced 0.4% to 3,797.54. 

Technology stocks led market indexes higher in Friday's trading in the hopes that the HKMA will follow the possible rate decline in the U.S. in June. 

Alibaba Group Holding rose 3.3% to HK $117.70, Tencent Holdings advanced 2.8% to HK $484.20, and Baidu jumped 5.2% to HK $88.70. 

Shenzhou International Group Holdings jumped 2.4% to HK $54.05, NetEase jumped 4.2% to HK $166.90, and SMIC dropped 1.3% to HK $45.75.  

China Denies Start of U.S. Trade Talks, Durable Goods Orders Surge

Barry Adams
24 Apr, 2025
New York City

Wall Street indexes turned lower amid ongoing trade policy confusion and elevated market uncertainty linked to the U.S. president's constantly changing trade policy. 

The sharp swings in market indexes turned April into the most volatile month on record, largely because of the incoherent and chaotic introduction of trade tariffs by the U.S. president. 

The elevated level of uncertainty is forcing corporations to withdraw their forward-looking outlooks, cut capacities, and pass on tariff-linked price hikes to consumers. 

Procter & Gamble's chief executive said price hikes are likely to happen in the second half, Southwest announced its plans to cut its capacity in the second half, and American Airlines withdrew its annual outlook. 

Moreover, Chipotle Mexican Grill reported its first same-store sales decline since the pandemic time in 2020 and said consumers are cautious with their spending.  

Donald Trump turned down his rhetoric on imports from China, only to be countered by the Treasury Secretary that the unilateral trimming of tariffs is not on the table. 

Moreover, China said it has not entered into negotiations with the U.S., dashing hopes of early resolution ahead of the tariff launch date on May 2. 

Investors are increasingly skeptical of announcements from the White House amid constantly changing narratives and shifting deadlines. 

Moreover, oil, bond, and precious markets are forecasting rising risks of a recession, which could begin as early as the third quarter.

At least one million jobs in the U.S. and an additional three million in China and Asia are likely to be lost if the proposed tariffs as high as 145% on Chinese imports are put in place early next month. 

U.S. durable goods orders in March soared 9.2% from the previous month to $315.7 billion, U.S. Census Bureau reported Thursday. 

Manufactured durable goods orders surged from the previous month and from a year ago because of a sharp increase in aircraft orders ahead of the U.S. tariffs. 

Transportation orders soared 27% from the previous month, drive by a surge in 139% increase in commercial aircraft orders. Excluding transportations, new orders were nearly unchanged at $191.1 billion. 

Non-defense capital goods orders rose 29.4% to $115 billion, and excluding aircrafts edged up 0.1% to $75.1 billion. 

Non-defense capital goods orders excluding aircrafts, are closely watched for business spending plans. 

Commodities, Currencies, Indexes, Yields

The S&P 500 index increased 0.5% to 5,401.99, the Nasdaq Composite edged up 0.8% to 16,850.29, and the Russell 2000 index was up 0.02% to 1,919.57.

The yield on 2-year Treasury notes edged lower to 3.81%, 10-year Treasury notes decreased to 4.33%, and 30-year Treasury bonds declined to 4.78%.

WTI crude oil increased $0.66 to $62.93 a barrel, and natural gas prices edged lower by $0.09 to $2.93 a thermal unit.

Gold increased by $12.35 to 3,329.23 an ounce, and silver edged down by $0.27 to $33.36.

The dollar index, which weighs the US currency against a basket of foreign currencies, decreased by 0.49 to 99.35, and it traded at the lowest level since April 2022.

U.S. Stock Movers 

ServiceNow Inc. surged 8.7% to $883.45 after the software company reported sharply higher earnings in the first quarter. 

Total revenue increased 18.5% to $3.1 billion, net income advanced to $460 million, and diluted earnings per share rose to $2.20. 

The company guided second-quarter revenue to increase 19% to $3.03 billion and free cash flow margin to 32%. 

American Airlines Group decreased 0.3% to $9.32, and the international carrier pulled its annual outlook, citing economic uncertainty. 

The company in the latest quarter generated revenues of $12.55 billion, and adjusted earnings per share were 59 cents. 

Texas Instruments jumped 9.3% to $166.39 after the advanced chipmaker reported better-than-expected quarterly results. 

Revenue jumped to $4.07 billion from $3.66 billion, net income edged up to $1.18 billion from $1.10 billion, and diluted earnings per share rose to $1.28 from $1.20 a year ago.

Procter & Gamble decreased 1% to $164.07, and the consumer products maker reported lower-than-expected fiscal third-quarter revenue of $19.8 billion. 

Net sales declined 2%, and volume fell 1% in the quarter. 

Net income in the third quarter rose to $3.77 billion from $3.75 billion, and diluted earnings per share advanced to $1.54 from $1.52 a year ago. 

P&G CEO Jon Moeller said price hikes linked to the Trump administration's tariffs are likely to take place in the next fiscal year, which begins in July. 

Chipotle Mexican Grill declined 3% to $47.30, and the company reported weaker-than-expected first-quarter results. 

The fast-casual food chain operator said same-store sales declined 0.4%, the first fall since 2020. 

Revenue jumped to $2.87 billion from $2.70 billion, net income edged up to $386.60 million from $359.29 million, and diluted earnings per share rose to 28 cents from 26 cents a year ago.

China Denies Start of U.S. Trade Talks, Sparking Another Sell-off On Wall Street

Barry Adams
24 Apr, 2025
New York City

Wall Street indexes turned lower amid ongoing trade policy confusion and elevated market uncertainty linked to the U.S. president's constantly changing trade policy. 

The sharp swings in market indexes turned April into the most volatile month on record, largely because of the incoherent and chaotic introduction of trade tariffs by the U.S. president. 

The elevated level of uncertainty is forcing corporations to withdraw their forward-looking outlooks, cut capacities, and pass on tariff-linked price hikes to consumers. 

Procter & Gamble's chief executive said price hikes are likely to happen in the second half, Southwest announced its plans to cut its capacity in the second half, and American Airlines withdrew its annual outlook. 

Moreover, Chipotle Mexican Grill reported its first same-store sales decline since the pandemic time in 2020 and said consumers are cautious with their spending.  

Donald Trump turned down his rhetoric on imports from China, only to be countered by the Treasury Secretary that the unilateral trimming of tariffs is not on the table. 

Moreover, China said it has not entered into negotiations with the U.S., dashing hopes of early resolution ahead of the tariff launch date on May 2. 

Investors are increasingly skeptical of announcements from the White House amid constantly changing narratives and shifting deadlines. 

Moreover, oil, bond, and precious markets are forecasting rising risks of a recession, which could begin as early as the third quarter.

At least one million jobs in the U.S. and an additional three million in China and Asia are likely to be lost if the proposed tariffs as high as 145% on Chinese imports are put in place early next month. 

U.S. Stock Movers 

ServiceNow Inc. surged 8.7% to $883.45 after the software company reported sharply higher earnings in the first quarter. 

Total revenue increased 18.5% to $3.1 billion, net income advanced to $460 million, and diluted earnings per share rose to $2.20. 

The company guided second-quarter revenue to increase 19% to $3.03 billion and free cash flow margin to 32%. 

American Airlines Group decreased 0.3% to $9.32, and the international carrier pulled its annual outlook, citing economic uncertainty. 

The company in the latest quarter generated revenues of $12.55 billion, and adjusted earnings per share were 59 cents. 

Texas Instruments jumped 9.3% to $166.39 after the advanced chipmaker reported better-than-expected quarterly results. 

Revenue jumped to $4.07 billion from $3.66 billion, net income edged up to $1.18 billion from $1.10 billion, and diluted earnings per share rose to $1.28 from $1.20 a year ago.

Procter & Gamble decreased 1% to $164.07, and the consumer products maker reported lower-than-expected fiscal third-quarter revenue of $19.8 billion. 

Net sales declined 2%, and volume fell 1% in the quarter. 

Net income in the third quarter rose to $3.77 billion from $3.75 billion, and diluted earnings per share advanced to $1.54 from $1.52 a year ago. 

P&G CEO Jon Moeller said price hikes linked to the Trump administration's tariffs are likely to take place in the next fiscal year, which begins in July. 

Chipotle Mexican Grill declined 3% to $47.30, and the company reported weaker-than-expected first-quarter results. 

The fast-casual food chain operator said same-store sales declined 0.4%, the first fall since 2020. 

Revenue jumped to $2.87 billion from $2.70 billion, net income edged up to $386.60 million from $359.29 million, and diluted earnings per share rose to 28 cents from 26 cents a year ago.

U.S. Movers: Chipotle, Lam Research, O'Reilly Automotive, Texas Instruments

Scott Peters
24 Apr, 2025
New York City

Texas Instruments Inc. surged 4.8% to $159.53 after the semiconductor company reported first-quarter 2025 results.

Revenue jumped to $4.07 billion from $3.66 billion, net income edged up to $1.18 billion from $1.10 billion, and diluted earnings per share rose to $1.28 from $1.20 a year ago.

"Over the past 12 months we invested $3.8 billion in research and development and selling general and administrative expenses, invested $4.7 billion in capital expenditures, and returned $6.4 billion to owners,” the company said in a release to investors.

The company guided second-quarter revenue to be between $4.17 billion and $4.53 billion, compared to $3.82 billion in 2024, and earnings per share between $1.21 and $1.47, compared to $1.22 a year earlier.

O'Reilly Automotive Inc. traded flat at $1,380.50 after the auto parts retailer reported first-quarter 2025 results.

Sales increased 4% to $4.14 billion from $3.98 billion, net income declined 2% to $538.48 million from $547.24 million, and diluted earnings per share jumped 2% to $9.35 from $9.20 a year ago.

Comparable store sales climbed 3.6% in the first quarter, on top of 3.4% in the prior year.

During the quarter, the company repurchased 0.4 million shares at an average price of $1,297.15 for a total investment of $559 million, and approximately $1.81 billion remained under share repurchase authorization.

O’Reilly guided fiscal 2025 comparable store sales to increase between 2% and 4%, revenue to be between $17.4 billion and $17.7 billion, compared to $16.71 billion in 2024, and diluted earnings per share to be between $42.90 and $43.40, compared to $40.66 a year ago.

The company plans to open 200 to 210 new stores in 2025.

Lam Research Corp. advanced 2.6% to $68.50 after the supplier of wafer fabrication equipment and services to the semiconductor industry reported results for the quarter ending in March.

Revenue edged up to $4.72 billion from $3.79 billion, net income jumped to $1.33 billion from $965.83 million, and diluted earnings per share rose to $1.03 from 73 cents a year ago.

The company guided for the quarter ending in June revenue to be $5.00 billion, compared to $3.87 billion in 2024, and diluted earnings per share to be $1.20, compared to $7.78 a year earlier.

Chipotle Mexican Grill Inc. slipped 2.05% to $47.76 after the fast-casual restaurant operator reported first-quarter 2025 results.

Revenue jumped to $2.87 billion from $2.70 billion, net income edged up to $386.60 million from $359.29 million, and diluted earnings per share rose to 28 cents from 26 cents a year ago.

Comparable restaurant sales decreased 0.4% in the quarter, driven by bad weather and a slowdown in consumer spending.

Food, beverage, and packaging costs in the first quarter were 29.2% of total revenue, an increase from 28.8% in the first quarter of 2024, but the increase was partially offset by higher menu prices.

The company opened 57 company-owned restaurants with 48 locations, including a Chipotlane, and two international licensed restaurants during the quarter.

Chipotle guided fiscal 2025 comparable sales growth in the low single-digit range, and it plans to open between 315 and 345 new company-owned restaurants, with over 80% having a Chipotlane.

U.S. Movers: Chipotle, Lam Research, O'Reilly Automotive, Texas Instruments

Scott Peters
24 Apr, 2025
New York City

Texas Instruments Inc. surged 4.8% to $159.53 after the semiconductor company reported first-quarter 2025 results.

Revenue jumped to $4.07 billion from $3.66 billion, net income edged up to $1.18 billion from $1.10 billion, and diluted earnings per share rose to $1.28 from $1.20 a year ago.

"Over the past 12 months we invested $3.8 billion in research and development and selling general and administrative expenses, invested $4.7 billion in capital expenditures, and returned $6.4 billion to owners,” the company said in a release to investors.

The company guided second-quarter revenue to be between $4.17 billion and $4.53 billion, compared to $3.82 billion in 2024, and earnings per share between $1.21 and $1.47, compared to $1.22 a year earlier.

O'Reilly Automotive Inc. traded flat at $1,380.50 after the auto parts retailer reported first-quarter 2025 results.

Sales increased 4% to $4.14 billion from $3.98 billion, net income declined 2% to $538.48 million from $547.24 million, and diluted earnings per share jumped 2% to $9.35 from $9.20 a year ago.

Comparable store sales climbed 3.6% in the first quarter, on top of 3.4% in the prior year.

During the quarter, the company repurchased 0.4 million shares at an average price of $1,297.15 for a total investment of $559 million, and approximately $1.81 billion remained under share repurchase authorization.

O’Reilly guided fiscal 2025 comparable store sales to increase between 2% and 4%, revenue to be between $17.4 billion and $17.7 billion, compared to $16.71 billion in 2024, and diluted earnings per share to be between $42.90 and $43.40, compared to $40.66 a year ago.

The company plans to open 200 to 210 new stores in 2025.

Lam Research Corp. advanced 2.6% to $68.50 after the supplier of wafer fabrication equipment and services to the semiconductor industry reported results for the quarter ending in March.

Revenue edged up to $4.72 billion from $3.79 billion, net income jumped to $1.33 billion from $965.83 million, and diluted earnings per share rose to $1.03 from 73 cents a year ago.

The company guided for the quarter ending in June revenue to be $5.00 billion, compared to $3.87 billion in 2024, and diluted earnings per share to be $1.20, compared to $7.78 a year earlier.

Chipotle Mexican Grill Inc. slipped 2.05% to $47.76 after the fast-casual restaurant operator reported first-quarter 2025 results.

Revenue jumped to $2.87 billion from $2.70 billion, net income edged up to $386.60 million from $359.29 million, and diluted earnings per share rose to 28 cents from 26 cents a year ago.

Comparable restaurant sales decreased 0.4% in the quarter, driven by bad weather and a slowdown in consumer spending.

Food, beverage, and packaging costs in the first quarter were 29.2% of total revenue, an increase from 28.8% in the first quarter of 2024, but the increase was partially offset by higher menu prices.

The company opened 57 company-owned restaurants with 48 locations, including a Chipotlane, and two international licensed restaurants during the quarter.

Chipotle guided fiscal 2025 comparable sales growth in the low single-digit range, and it plans to open between 315 and 345 new company-owned restaurants, with over 80% having a Chipotlane.

Europe Movers: Delivery Hero, Kering, Kuehne Nagel, Nestlé, Renault, STMicroelectronics, Unilever

Inga Muller
24 Apr, 2025
Frankfurt

Kering SA traded down 5.2% to €165.92 after the luxury products retailer reported lower revenue in the first quarter of 2025.

Sales declined 14% to €3.88 billion from €4.50 billion, driven by Gucci sales dropping 24% to €1.57 billion from €2.08 billion a year ago.

Yves Saint Laurent sales fell 8% to €679 million from €740 million a year earlier.

In the first quarter, the company closed 25 stores on a net basis, bringing its directly operated network to a total of 1,788 units.

Nestlé S.A. traded down 1.1% to CHF 86.40 despite the food and beverage company reporting higher sales in the first three months of 2025.

Revenue increased 2.3% to CHF 22.60 billion from CHF 22.09 billion a year ago.

Sales in the Americas remained flat, while they were up 3.6% in Asia, Oceania, and Africa and up 2.5% in Europe, the company said in a release to investors.

E-commerce sales grew organically by 15.1%, reaching 20.1% of total group sales.

Unilever PLC gained 0.5% to 4,839 pence after the UK-based consumer goods company reported first-quarter 2025 results.

Turnover was down 0.9% to €14.8 billion from €15.0 billion a year ago.

The company reconfirmed its full-year guidance for underlying sales growth between 3% and 5%, compared to €60.8 billion in 2024, driven by expected improvements in Indonesia and China in the second half of the year.

The quarterly interim dividend was 45.28 cents per share, an increase of 6.1% from the first quarter of 2024.

The company’s €1.5 billion share buyback program, announced in February, will be completed in the first half.

STMicroelectronics N.V. increased 2.5% to €19.69 despite the semiconductor company reporting lower first-quarter 2025 results.

Revenue declined to $2.52 billion from $3.46 billion, net income slumped to $56 million from $513 million, and diluted earnings per share dropped to 6 cents from 54 cents a year ago.

The company estimated second-quarter revenue to be $2.71 billion, a decrease of 16.2% compared to $3.23 billion a year ago, and a gross margin of about 33.4%, compared to 40.1% in 2024.

Renault Group gained 2.7% to €46.18 after the French car manufacturer reported a slight decline in first-quarter 2025 revenue.

Revenue edged down 0.3% to €11.67 billion from €11.71 billion, as automotive revenue declined 3% to €10.13 billion from €10.45 billion a year ago.

The company sold 564,980 vehicles in the quarter, compared to 549,099 vehicles a year earlier, and in Europe, sales were up 2.8% with 402,413 units sold.

Renault guided fiscal 2025 operating margin to be higher or equal to 7% and free cash flow to be higher or equal to €2 billion.

Delivery Hero SE traded down 5.7% to €23.49 after the German food delivery company reported first-quarter 2025 results.

Revenue increased to €3.52 billion from €2.96 billion a year ago, as gross merchandise value jumped to €12.37 billion from €11.79 billion a year ago.

The company guided fiscal 2025 total segment revenue to increase between 17% and 19%, compared to €12.80 billion in 2024, and gross merchandise value to be up between 8% and 10%, compared to €48.75 billion a year earlier.

Kuehne Nagel Group traded up 0.4% to CHF 188.35 after the freight forwarding company reported first-quarter 2025 results.

Net turnover jumped 14.9% to CHF 6.33 billion from CHF 5.51 billion, earnings rose 6.6% to CHF 291 million from CHF 273 million, and diluted earnings per share rose 6.5% to CHF 2.45 from CHF 2.30 a year ago.

Europe Movers: Delivery Hero, Kering, Kuehne Nagel, Nestlé, Renault, STMicroelectronics, Unilever

Inga Muller
24 Apr, 2025
Frankfurt

Kering SA traded down 5.2% to €165.92 after the luxury products retailer reported lower revenue in the first quarter of 2025.

Sales declined 14% to €3.88 billion from €4.50 billion, driven by Gucci sales dropping 24% to €1.57 billion from €2.08 billion a year ago.

Yves Saint Laurent sales fell 8% to €679 million from €740 million a year earlier.

In the first quarter, the company closed 25 stores on a net basis, bringing its directly operated network to a total of 1,788 units.

Nestlé S.A. traded down 1.1% to CHF 86.40 despite the food and beverage company reporting higher sales in the first three months of 2025.

Revenue increased 2.3% to CHF 22.60 billion from CHF 22.09 billion a year ago.

Sales in the Americas remained flat, while they were up 3.6% in Asia, Oceania, and Africa and up 2.5% in Europe, the company said in a release to investors.

E-commerce sales grew organically by 15.1%, reaching 20.1% of total group sales.

Unilever PLC gained 0.5% to 4,839 pence after the UK-based consumer goods company reported first-quarter 2025 results.

Turnover was down 0.9% to €14.8 billion from €15.0 billion a year ago.

The company reconfirmed its full-year guidance for underlying sales growth between 3% and 5%, compared to €60.8 billion in 2024, driven by expected improvements in Indonesia and China in the second half of the year.

The quarterly interim dividend was 45.28 cents per share, an increase of 6.1% from the first quarter of 2024.

The company’s €1.5 billion share buyback program, announced in February, will be completed in the first half.

STMicroelectronics N.V. increased 2.5% to €19.69 despite the semiconductor company reporting lower first-quarter 2025 results.

Revenue declined to $2.52 billion from $3.46 billion, net income slumped to $56 million from $513 million, and diluted earnings per share dropped to 6 cents from 54 cents a year ago.

The company estimated second-quarter revenue to be $2.71 billion, a decrease of 16.2% compared to $3.23 billion a year ago, and a gross margin of about 33.4%, compared to 40.1% in 2024.

Renault Group gained 2.7% to €46.18 after the French car manufacturer reported a slight decline in first-quarter 2025 revenue.

Revenue edged down 0.3% to €11.67 billion from €11.71 billion, as automotive revenue declined 3% to €10.13 billion from €10.45 billion a year ago.

The company sold 564,980 vehicles in the quarter, compared to 549,099 vehicles a year earlier, and in Europe, sales were up 2.8% with 402,413 units sold.

Renault guided fiscal 2025 operating margin to be higher or equal to 7% and free cash flow to be higher or equal to €2 billion.

Delivery Hero SE traded down 5.7% to €23.49 after the German food delivery company reported first-quarter 2025 results.

Revenue increased to €3.52 billion from €2.96 billion a year ago, as gross merchandise value jumped to €12.37 billion from €11.79 billion a year ago.

The company guided fiscal 2025 total segment revenue to increase between 17% and 19%, compared to €12.80 billion in 2024, and gross merchandise value to be up between 8% and 10%, compared to €48.75 billion a year earlier.

Kuehne Nagel Group traded up 0.4% to CHF 188.35 after the freight forwarding company reported first-quarter 2025 results.

Net turnover jumped 14.9% to CHF 6.33 billion from CHF 5.51 billion, earnings rose 6.6% to CHF 291 million from CHF 273 million, and diluted earnings per share rose 6.5% to CHF 2.45 from CHF 2.30 a year ago.

Europe Markets Turned Lower Amid U.S. Trade Policy Chaos, EU Passenger Car Registration Eased

Bridgette Randall
24 Apr, 2025
London

Stock market indexes across the eurozone lacked direction as investors focused on the latest batch of earnings. 

Benchmark indexes in Frankfurt, Paris, Milan, and London traded around the flatline as investors reacted to the latest iteration of U.S. trade policy. 

Investors reviewed the latest announcement from the Trump administration with deep skepticism amid constantly changing messaging. 

The U.S. Treasury Secretary clarified that the White House's offer to cut China tariffs is not unilateral and there is no deadline for finalizing the overall framework. 

EU Passenger Car Sales Fell Third Consecutive Month

Passenger car sales in the European Union decreased 0.2% from a year ago to 1.03 million in March, following a 3.4% fall in February. 

Passenger car sales declined for the third consecutive month amid a deteriorating economic growth outlook and weakening export environment, the European Automobile Manufacturers' Association noted in its monthly report. 

The Netherlands led the fall in passenger car registrations with a drop of 14.8%, followed by a decrease of 14.5% in France, 10.2% in Belgium, and 3.9% in Germany. 

Hybrid-electric vehicles surged, capturing 35.5% of the market and remaining the preferred choice among EU consumers. 

Meanwhile, the combined market share of petrol and diesel cars decreased to 38.3%, down from 48.3% in the period a year ago. 

In the first quarter of 2025, new battery-electric car sales grew by 23.9%, to 412,997 units, increasing its share to 15.2% of the total EU market. 

Three of the four largest markets in the EU, accounting for 63% of all battery-electric car registrations, recorded robust gains. 

Registration rose nearly 39% in Germany, 30% in Belgium, and 7.9% in the Netherlands. 

This contrasted with France, which saw a decline of 6.6%.

Overall registration in the first quarter decreased 1.9% from a year ago to 2.8 million units. 

Europe Indexes and Yields

The DAX index decreased by 0.9% to 21,755.45, the CAC-40 index edged lower 0.8% to 7,422.34, and the FTSE 100 index declined by 0.3% to 8,376.45.

The yield on 10-year German bonds inched lower to 2.47%, French bonds decreased to 3.21%, the UK gilts moved down to 4.55%, and Italian bonds edged lower to 3.59%.

The euro increased to $1.14; the British pound was higher at $1.33; and the U.S. dollar was lower and traded at 82.69 Swiss cents.

Brent crude increased $0.25 to $66.37 a barrel, and the Dutch TTF natural gas was higher by €0.05 to €34.12 per MWh.

Stock Movers 

BNP Paribas declined 2.9% to €71.76 after the French bank reported a decline in profits in the latest quarter. 

Kering SA dropped 6.4% to €163.74, and the luxury goods company reported weaker-than-expected earnings in the first quarter and signaled macroeconomic headwinds. 

Europe Markets

Bridgette Randall
24 Apr, 2025
London

Stock market indexes across the eurozone lacked direction as investors focused on the latest batch of earnings. 

Benchmark indexes in Frankfurt, Paris, Milan, and London traded around the flatline as investors reacted to the latest iteration of U.S. trade policy. 

Investors reviewed the latest announcement from the Trump administration with deep skepticism amid constantly changing messaging. 

The U.S. Treasury Secretary clarified that the White House's offer to cut China tariffs is not unilateral and there is no deadline for finalizing the overall framework. 

Passenger car sales in the European Union decreased 0.2% from a year ago to 1.03 million in March, following a 3.4% fall in February. 

Passenger car sales declined for the third consecutive month amid a deteriorating economic growth outlook and weakening export environment, the European Automobile Manufacturers' Association noted in its monthly report. 

The Netherlands led the fall in passenger car registrations with a drop of 14.8%, followed by a decrease of 14.5% in France, 10.2% in Belgium, and 3.9% in Germany. 

Hybrid-electric vehicles surged, capturing 35.5% of the market and remaining the preferred choice among EU consumers. 

Meanwhile, the combined market share of petrol and diesel cars decreased to 38.3%, down from 48.3% in the period a year ago. 

In the first quarter of 2025, new battery-electric car sales grew by 23.9%, to 412,997 units, increasing its share to 15.2% of the total EU market. 

Three of the four largest markets in the EU, accounting for 63% of all battery-electric car registrations, recorded robust gains. 

Registration rose nearly 39% in Germany, 30% in Belgium, and 7.9% in the Netherlands. 

This contrasted with France, which saw a decline of 6.6%.

Overall registration in the first quarter decreased 1.9% from a year ago to 2.8 million units. 

Europe Indexes and Yields

The DAX index decreased by 0.9% to 21,755.45, the CAC-40 index edged lower 0.8% to 7,422.34, and the FTSE 100 index declined by 0.3% to 8,376.45.

The yield on 10-year German bonds inched lower to 2.47%, French bonds decreased to 3.21%, the UK gilts moved down to 4.55%, and Italian bonds edged lower to 3.59%.

The euro increased to $1.14; the British pound was higher at $1.33; and the U.S. dollar was lower and traded at 82.69 Swiss cents.

Brent crude increased $0.25 to $66.37 a barrel, and the Dutch TTF natural gas was higher by €0.05 to €34.12 per MWh.

Stock Movers 

BNP Paribas declined 2.9% to €71.76 after the French bank reported a decline in profits in the latest quarter. 

Kering SA dropped 6.4% to €163.74, and the luxury goods company reported weaker-than-expected earnings in the first quarter and signaled macroeconomic headwinds. 

Tokyo Indexes Extend 2-Day Rebound as Investors Shift Focus to Defense Stocks

Akira Ito
24 Apr, 2025
Tokyo

Technology and financial stocks led market indexes higher for the second consecutive session, tracking Wall Street gains in overnight trading. 

The Nikkei 225 Stock Average gained as much as 0.8%, and the broader TOPIX index advanced 0.4%. 

Market sentiment has wavered amid constantly changing U.S. trade policy, and the export-heavy Japan's economy is heavily dependent on its shipments to the U.S. 

About 40% of the listed companies in the first section of the Tokyo Stock Exchange are dependent on exports to the U.S. 

Japan's policymakers are increasingly factoring in the possibilities of 25% tariffs on exports to the U.S., as the U.S. shows little interest in setting negotiating priorities and deadlines. 

In addition, the U.S. policymakers are looking to combine security and defense cooperation with the trade negotiations and demanding Japan step up its defense spending and share a larger burden of maintaining U.S. military bases. 

The Japanese yen traded at 142.77 against the U.S. dollar as investors sold U.S. dollar-denominated assets amid waning confidence in its safe haven status. 

The Bank of Japan is widely anticipated to hold its short-term rates at 0.5% at the end of its policy meeting next week. 

The central bank is likely to lower its economic growth outlook in the current fiscal year amid ongoing global trade tensions and slowing economic growth outlook in the U.S. and China, two key export markets for Japan's goods. 

Japan Indexes and Stocks 

The Nikkei 225 Stock Average increased 0.5% to 35,048.46, and the broader TOPIX index advanced 0.4% to 2,594.57. 

Vehicle makers led the gainers in Tokyo trading, despite investors dialing down expectations of a trade deal between the U.S. and Japan in the near term. 

Toyota Motor Corp. advanced 3.2% to ¥2,664.0, Honda Motor Co. Ltd. gained 0.9% to ¥1,431.50, and Nissan Motor Co. Ltd. increased 0.4% to ¥335.10. 

Tech stocks rebounded for the second consecutive session following a rally in semiconductor stocks on Wall Street in overnight trading. 

Tokyo Electron jumped 3.5% to ¥20,340.0, Advantest Corp. gained 3.2% to ¥5,723.0, and Disco Corp. added 1.3% to ¥27,310.0. 

Industrial companies with a focus on defense equipment extended this year's gains amid expectations of rising government spending. 

IHI Corp. jumped 0.7% to ¥10,670.0, Kawasaki Heavy Industries added 0.7% to ¥8,028.0, and Mitsubishi Heavy Industries advanced 1.7% to ¥2,687.0. 

Tokyo Indexes Extend 2-Day Rebound as Investors Shift Focus to Defense Stocks

Akira Ito
24 Apr, 2025
Tokyo

Technology and financial stocks led market indexes higher for the second consecutive session, tracking Wall Street gains in overnight trading. 

The Nikkei 225 Stock Average gained as much as 0.8%, and the broader TOPIX index advanced 0.4%. 

Market sentiment has wavered amid constantly changing U.S. trade policy, and the export-heavy Japan's economy is heavily dependent on its shipments to the U.S. 

About 40% of the listed companies in the first section of the Tokyo Stock Exchange are dependent on exports to the U.S. 

Japan's policymakers are increasingly factoring in the possibilities of 25% tariffs on exports to the U.S., as the U.S. shows little interest in setting negotiating priorities and deadlines. 

In addition, the U.S. policymakers are looking to combine security and defense cooperation with the trade negotiations and demanding Japan step up its defense spending and share a larger burden of maintaining U.S. military bases. 

The Japanese yen traded at 142.77 against the U.S. dollar as investors sold U.S. dollar-denominated assets amid waning confidence in its safe haven status. 

The Bank of Japan is widely anticipated to hold its short-term rates at 0.5% at the end of its policy meeting next week. 

The central bank is likely to lower its economic growth outlook in the current fiscal year amid ongoing global trade tensions and slowing economic growth outlook in the U.S. and China, two key export markets for Japan's goods. 

Japan Indexes and Stocks 

The Nikkei 225 Stock Average increased 0.5% to 35,048.46, and the broader TOPIX index advanced 0.4% to 2,594.57. 

Vehicle makers led the gainers in Tokyo trading, despite investors dialing down expectations of a trade deal between the U.S. and Japan in the near term. 

Toyota Motor Corp. advanced 3.2% to ¥2,664.0, Honda Motor Co. Ltd. gained 0.9% to ¥1,431.50, and Nissan Motor Co. Ltd. increased 0.4% to ¥335.10. 

Tech stocks rebounded for the second consecutive session following a rally in semiconductor stocks on Wall Street in overnight trading. 

Tokyo Electron jumped 3.5% to ¥20,340.0, Advantest Corp. gained 3.2% to ¥5,723.0, and Disco Corp. added 1.3% to ¥27,310.0. 

Industrial companies with a focus on defense equipment extended this year's gains amid expectations of rising government spending. 

IHI Corp. jumped 0.7% to ¥10,670.0, Kawasaki Heavy Industries added 0.7% to ¥8,028.0, and Mitsubishi Heavy Industries advanced 1.7% to ¥2,687.0.