-- 獨立研究機構CFRA向提供了以下研究報告。 CFRA分析師的觀點摘要如下：麥格納國際（MG）公佈第一季調整後每股收益為1.38美元，高於預期的0.78美元（成長77%），遠超過市場普遍預期的1.01美元。這主要得益於遠超預期的銷售額和利潤率。營收成長3.1%至103.8億美元（較市場普遍預期高出1.1億美元），調整後息稅前利潤率提升190個基點至5.4%（較市場普遍預期高出120個基點）。麥格納將2026年營收預期從419億至435億美元下調至415億至431億美元（目前市場普遍預期為424億美元）。除上述調整外，麥格納將淨利息支出預期從1.8億美元下調至1.65億美元。其他業績預期維持不變。儘管該公司並未上調全年每股收益預期，但鑑於業績遠超預期，我們認為上調預期的可能性更大。不過，考慮到當前宏觀經濟的不確定性，管理階層的謹慎態度也情有可原。鑑於MG在汽車零件及設備領域的廣泛產品線，以及其作為北美最大汽車供應商的地位，我們認為其第一季強勁的業績對其他汽車供應商具有積極意義。
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Gold Edges Down Early, Remaining Rangebound, As Treasury Yields Rise
Gold edged lower early Friday, albeit it remained rangebound, even with a weakening dollar as treasury yields rose while traders turn to bonds and also while the Iran War pushes up oil prices and boosts inflation and threatens higher interest rates.Gold for June delivery was last seen down $20.20 to US$4,609.40 per ounce.The precious metal has traded within a narrow range over the past month as the Iran war remains deadlocked. Against this backdrop, U.S. data on Thursday showed the Federal Reserve's preferred inflation measure rose by 3.5% annualized in March, up from a 2.8% pace in February.While the Fed's policy committee declined to raise interest rates at the Wednesday end to its two-day policy committee, it issued a hawkish outlook, with rates likely to rise to combat higher prices, keeping gold, which offers no interest, in check."Gold ended April little changed despite a late oil-driven wobble sparked by inflation and rate-hike concerns," Saxo Bank noted.The dollar fell early, with the ICE dollar index last seen down 0.14 points to 97.92, the lowest since the start of the war on Iran. Treasury yields rose, with the yield on the U.S. two-year note last seen up 2.7 basis points to 3.9%, while the 10-year note last seen paying 4.393%, up 1.8 points.
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Commodities
Exxon Q1 Hydrocarbons Output Rises YoY Despite Middle East Disruptions
Exxon Mobil (XOM) Friday reported a year-over-year increase in its Q1 oil and gas production, as higher output from the Americas more than offset supply disruptions in the Middle East.For the quarter ended March 31, the upstream segment's oil and gas output stood at 4.59 million barrels of oil equivalent per day, a rise from the previous year's 4.55 mboe/d but a decline from the prior quarter's 4.99 mboe/d.Net production of crude oil, natural gas liquids, bitumen, and synthetic oil was up year over year to 3.3 million barrels per day from 3.1 mmbbls/d, as higher output from the US, Canada and other American regions offset declines in Asia. Q1 output, however, was down versus the previous quarter's 3.5 mmbbls/d.Net natural gas production came in lower at 7.8 million cubic feet per day, relative to year-ago levels of 8.5 mcf/d, largely due to lower Asian output. Q1 production was also down versus Q4's 8.7 mcf/d.During the period, the company noted that Guyana achieved a record quarterly production of more than 900,000 gross barrels of oil per day, but the Middle East conflict negatively impacted overall output levels.Golden Pass LNG, a joint venture between QatarEnergy and ExxonMobil, achieved first production from Train 1 at the end of March, Exxon said, resulting in a 5% year-over-year increase in US exports.The company posted a decline in Q1 refinery throughput, primarily due to reduced processing in Europe and Asia. Throughput totaled 3.5 mmbbls/d in Q1, compared with 3.8 mmbls/d a year ago and 4.1 mmbbls/d a quarter earlier.Nonetheless, energy product sales grew year over year to 5.6 mmbbls/d from 5.3 mmbbls/d, as higher US sales more than offset a drop in non-US volumes. Except for heating oils, kerosene, and diesel, all other energy products logged corresponding sale increases.Q1 sales, however, were lower than Q4's 5.8 mmbbls/d, due to scheduled maintenance and Middle East disruptions, the company said.Chemical product sales totaled 5.4 million tons in Q1, up versus 4.8 mmt a year earlier, but down compared with the previous quarter's 5.7 mmt.Special product sales also grew to 1.98 mmt in Q1, versus 1.94 mmt in the prior year and 1.92 in the previous quarter, with high-value products achieving a record sales volume, according to the report.
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Sectors
Sector Update: Financial Stocks Rise Premarket Friday
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