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Autoliv Beats First-Quarter Views, Affirms Full-Year Outlook

Autoliv's (ALV) first-quarter results exceeded Wall Street's estimates, while the Swedish automotive safety supplier affirmed its full-year outlook on Friday amid an uncertain business environment.Adjusted per-share earnings for the March quarter fell to $2.05 from $2.15 a year earlier, but surpassed the FactSet-polled consensus of $1.83. Sales grew 6.8% to $2.75 billion, while analysts expected $2.62 billion.Autoliv's New York Stock Exchange-listed stock was up 9% intraday, and has risen 2.4% since the start of the year."The first quarter exceeded our expectations, driven by strong sales in March," Chief Executive Mikael Bratt said during an earnings call, according to a FactSet transcript.Sales in China increased 10% to $492 million. The Europe, the Middle East, and Africa region climbed 9.3% to $835 million, while revenue in the Americas improved 1.3%.Autoliv continues to expect flat organic sales for 2026, with adjusted operating margin at around 10.5% to 11%. Analysts in a FactSet poll are looking for full-year reported sales of $10.93 billion, compared with last year's $10.82 billion."Given the continued uncertainty in the geopolitical environment, the effects of tariffs and trade restrictions may lead to a more adverse inflation environment," the company said in a statement. "We continue to execute on productivity and cost reduction initiatives to offset these cost pressures."The hostilities in the Persian Gulf had a limited impact this quarter, Bratt told analysts.Iranian Foreign Minister Seyed Abbas Araghchi said on Friday that the crucial Strait of Hormuz is "completely open" following a ceasefire between Israel and Lebanon.Energy prices have surged in the aftermath of the US-Israel war with Iran that had spread across the Middle East. The White House is optimistic about reaching a deal with Iran as a two-week ceasefire between Washington and Tehran holds.Tariffs impacted first-quarter profitability negatively, Autoliv said."Although we achieved customer compensations for more than 70% of tariff costs, the net effect on operating margin was around 40 (basis-point) negative, including the dilution effect," the company said. "While it is our ambition and expectation to continue passing tariff costs on to our customers, there is significant uncertainty as future recovery levels may vary."Price: $121.06, Change: $+9.73, Percent Change: +8.74%

$ALV

US Markets22d ago

Chipotle Likely to Maintain Full-Year Comparable Sales Outlook Amid Macro Uncertainty, RBC Says

Chipotle Mexican Grill (CMG) is expected to reiterate its full-year same-store sales outlook amid increased macro uncertainty due to the Middle East war, RBC Capital Markets said in a client note emailed Friday.In February, the burrito chain said it anticipated comparable restaurant sales to be flat in 2026, while the current consensus on FactSet is for growth of 0.8%. Chief Financial Officer Adam Rymer said during an earnings call at the time that the guidance was "grounded in a conservative baseline" in light of the "evolving consumer dynamic."RBC believes the company's senior management is expected to maintain its full-year forecast given the heightened uncertainty about the impact of the war in the Middle East on consumers in the US.Energy prices rose following the Iran war that started at the end of February. Recently, US-Iran peace negotiations in Pakistan ended without a deal, but a two-week ceasefire between Washington and Tehran still holds. Iran's foreign minister Abbas Araghchi said in a social media post on Friday that the passage for all commercial vessels through the Strait of Hormuz is completely open for the remaining period of the ceasefire."Though we continue to believe the outlook is a couple hundred (basis points) more conservative than typical and could see upward revisions through the year," RBC analyst Logan Reich said in the note.Government data released earlier this month showed consumer inflation accelerated to its highest monthly reading in nearly four years in March amid higher energy prices.For the first quarter, the brokerage estimates Chipotle to report a comparable sales decline of 0.8%, but sees potential for "some upside" with easier year-over-year comparables, as traffic slowed down in February 2025. Analysts polled by FactSet are looking for a 0.8% drop in comparable sales in the first quarter."On broader consumer spending, management noted a stepdown starting in February 2025, which could imply compares get easier through the quarter," according to Reich.RBC lowered its price target on Chipotle's stock to $45 from $50 with an outperform rating.Chipotle is scheduled to announce its quarterly results on April 29.Price: $36.58, Change: $+1.50, Percent Change: +4.28%

$CMG

US Markets22d ago

Fifth Third Bancorp Posts Surprise First-Quarter Profit; Regions Financial Revenue Misses Views

Fifth Third Bancorp (FITB) reported a surprise first-quarter profit on Friday, while Regions Financial's (RF) revenue fell short of market estimates.Fifth Third posted net income of $0.15 a share for the March quarter, down from $0.71 the year before, but defied the consensus on FactSet for a per-share loss of $0.10. The result included a negative impact of $0.68 a share on the bottom line related to the company's acquisition of regional lender Comerica."We closed the acquisition of Comerica on Feb. 1, and early financial benefits are already showing up, including strong net interest margin expansion and tangible book value per share growth," Chief Executive Tim Spence said in a statement. "We are also seeing early revenue synergies across both commercial and consumer businesses."Adjusted revenue rose to $2.86 billion from $2.16 billion in the prior-year quarter, just ahead of the Street's view for $2.85 billion. The stock was up 0.7% in the most recent premarket activity.On a fully taxable-equivalent basis, net interest income jumped 34% to $1.94 billion, buoyed by the addition of Comerica earning assets and lower funding costs, according to the lender. Noninterest income climbed 29% to $895 million.For 2026, the bank now anticipates net interest income to come in between $8.7 billion and $8.8 billion, according to an earnings presentation, reflecting a higher bottom end versus its previous outlook of $8.6 billion issued in January. For the ongoing quarter, it expects the metric to be at $2.2 billion to $2.25 billion.Separately, Regions Financial's adjusted EPS increased to $0.62 for the first quarter from $0.54 a year earlier, topping the average analyst estimate on FactSet of $0.60. Adjusted revenue improved 3.5% to $1.87 billion, but missed the Street's forecast of $1.91 billion. Regions' stock slipped 0.2% before the opening bell."Our results reflect the strength of our franchise, the continued momentum of our markets, and our consistent focus on solid execution amid an evolving macroeconomic backdrop," CEO John Turner said. "Growth in loans and deposits accelerated during the first quarter, credit metrics continued to improve, and client sentiment remained generally optimistic across our footprint."Net interest income came in at $1.26 billion on a taxable-equivalent basis, up from $1.21 billion in the 2025 quarter, but was down 2.6% from the previous three-month period. Noninterest income inclined 5.9% to $625 million.The lender continues to project net interest income to grow by 2.5% to 4% for the current full year, it said in an earnings presentation. The metric is expected to increase by about 2% sequentially in the second quarter.

$FITB$RF

US Markets22d ago

Stocks Rise Pre-Bell as President Trump Signals Optimism on Iran Deal Prospects

The benchmark US stock measures were pointing higher before the open Friday after President Donald Trump reportedly expressed optimism over prospects for a peace deal with Iran.The S&P 500 and the Nasdaq rose 0.2% each in premarket activity, while the Dow Jones Industrial Average added 0.4%. The indexes finished Thursday in the green, with the Nasdaq extending its winning streak to a 12th consecutive session."It's looking very good that we're going to make a deal with Iran, and it's going to be a good deal," Trump told reporters at the White House on Thursday, according to Bloomberg News. Talks between the US and Iran could resume on the weekend, Trump said.Treasury yields were down before the opening bell, with the two-year rate retreating 1.3 basis points to 3.77% and the 10-year rate off 1.4 basis points to 4.3%.On Thursday, Trump announced on social media that Lebanese President Joseph Aoun and Israeli Prime Minister Benjamin Netanyahu agreed to formally begin a 10-day ceasefire. The ceasefire seeks to pause hostilities between Israel and Iran-backed Hezbollah in Lebanon, a key sticking point in peace negotiations between Washington and Tehran.West Texas Intermediate crude oil dropped 4.1% to $90.82 a barrel in premarket action, while Brent fell 4% to $87.54.Shares of Netflix (NFLX) slumped 9.8% pre-bell after the streaming giant's second-quarter outlook fell short of Wall Street's estimates. Advanced Micro Devices (AMD) edged down 0.4% after closing the previous trading session up 7.8%, while GE Aerospace (GE) rebounded 0.4% following a nearly 5% drop on Thursday.Truist Financial (TFC), Fifth Third Bancorp (FITB), State Street (STT), Regions Financial (RF), Ally Financial (ALLY) and Autoliv (ALV) report their latest financial results before the bell.Federal Reserve Bank of San Francisco President Mary Daly is scheduled to speak at 11:30 am ET, while Richmond Fed President Thomas Barkin speaks at 12:15 pm. Federal Reserve Governor Christopher Waller is slated to speak at 2 pm.Friday's thin economic calendar has the weekly Baker Hughes oil-and-gas rig count at 1 pm.Gold nudged 0.1% higher to $4,814 per troy ounce, while bitcoin slipped 0.1% to $75,132.

$^DJI$^IXIC$^SPX$ALLY$ALV$AMD$FITB$GE$NFLX$RF$STT$TFC

US Markets22d ago

Singapore Exports Expand by 15.3% on Year in March

Singapore's non-oil domestic exports rose 15.3% in March on year, driven by tech gadgetry, reported Enterprise Singapore on Friday.Electronics exports "continued to grow, supported by strong AI-related demand and a low base a year ago, driven mainly by ICs, PCs and disk media products, while non-electronics declined," said Enterprise Singapore.Exports of electronic goods from the city-state expanded by 74.0% in March, supported by strong AI-related demand and a low base a year ago, reported the government agency.Outbound shipments of integrated circuits, also known as chips or semiconductors, rose by 113.8% in March on year, said officials.In contrast, prepared food exports in March declined by 42% on year, added officials.Exports in March rose the most, on year, to Hong Kong, Taiwan and China, while outbound shipments to Indonesia, the EU 27, the US and Thailand declined.As a regional port and hub, Singapore also imports and then re-exports goods, sometimes through free trade zones, without altering the merchandise in any meaningful fashion.Singapore's non-oil re-exports expanded by 61.4% in March, extending the 21.9% rise in February, with the expansion driven primarily by electronics, said Enterprise Singapore.

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US Markets22d ago

Bouygues Telecom, Orange, Free-iliad Submit Sweetened EUR20.4 Billion Bid for Altice's SFR

Bouygues Telecom, which is part of the Bouygues (EN.PA, ENNV.PA) group, Orange (ORA.PA) and Free-iliad Group are set to begin exclusive talks after submitting a new offer to acquire Altice France's SFR for a total enterprise value of 20.35 billion euros.Following the news, Bouygues and Orange shares were trading over 1% and almost 4% lower, respectively, in Paris as of Friday midday.Altice France granted an exclusivity period to the consortium of three French telecommunications companies until May 15 to finalize a deal for its SFR telecoms business, according to a same-day joint release. The latest offer is an improvement from the initial 17 billion-euro bid in October 2025 that was rejected by Altice.The proposed transaction, which comes after a due diligence phase that commenced in 2026, includes the majority of assets operated by Altice France-SFR, but excludes certain shareholdings and Altice France's operations in French overseas departments and regions.The consortium will split the price and value of the acquisition between them, with Bouygues Telecom covering 42%, Orange taking on 27% and Free-iliad being responsible for the remaining 31%, with the deal expected to help sustain and bolster France's digital economy and its telecommunications sector."[The acquisition] is favourable for Bouygues and Orange as it will reduce from 4 to 3 the number of players in France. Note it is all the more favourable to Orange that the EUR3.35bn extra compared to the first offer correspond to only c.EUR900m for the group," analysts at AlphaValue/Baader Europe said in a note.The consortium cautioned that there is no certainty that an agreement will materialize from the new offer. The deal also remains subject to regulatory approvals and a consultation with relevant employee representative bodies.

$EN.PA$ENNV.PA$ORA.PA

US Markets22d ago

Telco Ericsson's First-quarter Profits Hit by Restructuring Costs, Currency Headwinds

Ericsson's (ERIC-B.ST, ERIC-A.ST, ERIBR.HE) first-quarter profits declined year over year, pressured by restructuring expenses and adverse currency shifts, according to a Friday release.The telecommunications group's attributable net income for the three months ended March 31 stood at 888 million kronor, down from 4.15 billion kronor a year ago and the FactSet-compiled estimate of 3.57 billion kronor. EPS moved to 0.27 krona from 1.24 kronor.While reported net sales declined to 49.33 billion kronor from 55.03 billion, the company achieved 6% year-over-year organic growth, reflecting strength across all business segments. Analysts polled by FactSet expected 50.92 billion kronor in sales.For the three months, Ericsson's adjusted gross margin moderated to 48.1% from 48.5%, while reported gross margin came in at 47.2%, against the previous 48.2%. The group noted that the cloud software and services division saw margin expansion, while networks saw a slight reduction in margins."Our multi-year investments in building a resilient, [diversified] supply chain have enabled us to deliver consistently for customers amidst geopolitical and macroeconomic uncertainties. We are facing increasing input costs, especially in semiconductors, caused in part by AI demand. Our ambition is to offset these challenges, by working closely with customers and suppliers, and through product substitution and efficiency actions," Chief Executive Officer and President Börje Ekholm said, adding that the company's focus on enterprise and mission-critical segments bolsters long-term growth momentum even amid expectations of a "flattish" radio access network market.Concurrently, Ericsson plans to initiate a share buyback program worth 15 billion kronor, aimed at distributing excess liquidity and fulfilling obligations under its share-based incentive plans. The repurchase program will run from April 23, 2026, to March 31, 2027, with repurchases of Class B shares to be executed by an independent firm. The company will limit acquisitions to 10% of total issued shares and intends to propose the cancellation of all shares not required for incentive programs.Ericsson shares gained over 1% in Stockholm and marginally in Helsinki in early afternoon trade on Friday.

$ERIBR.HE$ERIC-A.ST$ERIC-B.ST

US Markets22d ago

Malaysia's Economy Eases By 5.3% in Q1

Malaysia's economy slowed down in the first quarter as the impact of the Middle East war began to reverberate through the oil and energy industries.The gross domestic product grew 5.3% during the January to March period, lower than the preceding quarter's growth of 6.3%, according to a Friday press release from the Department of Statistics.The official GDP missed the 5.5% estimate from analysts surveyed by Bloomberg."Malaysia's first quarter of 2026 reflects an economy that remains fundamentally resilient, even with the rising global uncertainties, particularly elevated oil prices following the geopolitical tensions," The country's chief statistician, Dr. Mohd Uzir Mahidin, said.Among sectors, the mining and quarrying sector contracted by 1.1% due to lower production within the crude oil and gas industries. The global oil supply has been affected, especially when Iran decided to close the Strait of Hormuz --- a critical global oil passageway --- amid the U.S.-Israel missile attacks on Tehran.The government committed to raising its 10% biodiesel mandate, or B10, to a 15% biodiesel blend to bolster biodiesel use amid the fuel supply constraints brought by the conflict. Economy Minister Akmal Nasir made the statement on Tuesday, according to a report on The Business Times.The other sectors moderately expanded. The services sector rose 5.4%, weaker than 6.3% in the fourth quarter of 2025. Manufacturing increased 5.8%, lower than the 6.1% rise in the previous quarter. Agriculture and construction grew 2.8% and 7.8%, respectively, slower than the previous quarter's 5.4% and 11%, the DOSM said.ING's regional head of research for Asia-Pacific, Deepali Bhargava, said Malaysia is among developed Asian countries that are well-positioned to weather the conflict as domestic demand was held up, while being supported by tight labor markets.The country's inflation in March rose 1.7% due to price hikes in the transportation sector.

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US Markets22d ago

CATL's Q1 Profit Surges 49%, Beats Estimates; Directors Approve New Subsidiary

Contemporary Amperex Technology's (SHE:300750, HKG:3750) net profit attributable to shareholders in the first quarter rose 49% to 20.74 billion yuan from the year-ago profit of 13.96 billion yuan, according to a Wednesday filing with the Hong Kong bourse.The growth rate is higher than the estimated 21% rise in a poll of three analysts compiled by LSEG, Reuters reported Wednesday.Earnings per share at the world's largest battery maker climbed 44% year on year to 4.58 yuan from 3.18 yuan.The rise highlights the company's market dominance despite a slowdown in demand for electric vehicles in China, Reuters reported Wednesday.However, the war in Iran could boost demand for EVs elsewhere, the Wall Street Journal reported the same day, citing analysts at HSBC (HKG:0005).Operating revenue jumped 52% to 129.13 billion yuan from 84.70 billion yuan in the previous year.Analysts expected a 36% increase in revenue, Reuters said.CATL directors also approved the creation of a new energy mineral resource subsidiary with a capital of 30 billion yuan, according to a separate disclosure to the Shenzhen bourse on Wednesday.The planned subsidiary, to be named Times Resources Group (Xiamen), will explore mineral resources, process metal, and sell chemical products.The unit will act as the battery giant's investment and operations platform for the new-energy minerals, CATL said in its disclosure.CATL could be among those well-positioned to capture the next phase of growth in energy storage due to the battery giant's expanding energy storage system exposure, the Wall Street Journal said, citing HSBC.The company earlier tapped Zijin Mining Group (HKG:2899, SHA:601899) founder and former chairman Chen Jinghe to advise the battery giant on its mining business, Bloomberg reported April 7, citing people familiar with the matter.Meanwhile, CATL is also looking to have itself removed from the Pentagon's blacklist, or those with ties to China's military, to increase its U.S. prospects, Bloomberg reported separately Wednesday.

$HKG:2899$HKG:3750$SHA:601899$SHE:300750

US Markets22d ago

Nasdaq, S&P 500 Score Back-to-Back Record Highs

The Nasdaq Composite and the S&P 500 reached new peaks Thursday amid growing hopes for a resolution to the Middle East conflict.The Nasdaq rose 0.4% to 24,102.7, while the S&P 500 climbed 0.3% to 7,041.3, both notching record closing highs for a second consecutive day. The Nasdaq extended its winning streak to 12 days in a row.The Dow Jones Industrial Average added 0.2% to 48,578.7.Most sectors ended in the green, led by energy, while health care saw the biggest drop.US President Donald Trump said Thursday that Lebanon and Israel agreed to a 10-day ceasefire.Trump said in a social media post that he will invite Israeli Prime Minister Benjamin Netanyahu and Lebanese President Joseph Aoun to the White House for "meaningful talks.""Both sides want to see peace, and I believe that will happen, quickly," he wrote.The ceasefire seeks to pause hostilities between Israel and Iran-backed Hezbollah in Lebanon, a key sticking point in peace negotiations between the US and Tehran.West Texas Intermediate crude oil was up 2.4% at $93.50 a barrel in Thursday late-afternoon trade, while Brent advanced 3.4% to $98.19."Oil is up over doubts that the Strait of Hormuz disruption will ease soon," D.A. Davidson said in a report.US Treasury yields were higher, with the 10-year rate up 2.6 basis points at 4.31% and the two-year rate rising 1.6 basis points to 3.79%.In company news, IBM (IBM) shares rose 2.5%, the third-top gainer on the Dow. The tech giant will likely exceed Wall Street's estimates for the first quarter and raise its revenue guide amid momentum in the software segment and an earlier completion of the Confluent acquisition, Oppenheimer said in a note. IBM is scheduled to announce its quarterly results next week.Charles Schwab (SCHW) shares dropped 7.6%, the steepest decline on the S&P 500. The financial services provider's first-quarter results rose year over year amid a surge in client assets, though revenue fell short of the Street's estimates.Abbott Laboratories (ABT) followed Charles Schwab on the S&P 500, down 6%. The healthcare company lowered its full-year earnings outlook to reflect the acquisition of cancer diagnostics firm Exact Sciences.PepsiCo (PEP) reported higher-than-expected fiscal first-quarter results amid affordability initiatives, while the beverage and snacks company reiterated its full-year outlook. Its shares rose 2.3%.In economic news, US industrial production unexpectedly decreased in March, Federal Reserve data showed.It's too soon to blame the Middle East conflict for the drop, which was driven by "sharply falling" output in the mining and utilities sectors, Oxford Economics said in a note.Gold was last down 0.2% at $4,813.70 per troy ounce, while silver fell 1.2% to $78.68 per ounce.

$^DJI$^IXIC$^SPX$ABT$IBM$PEP$SCHW

US Markets22d ago

Netflix First-Quarter Results Rise, Second-Quarter Outlook Misses Views

Netflix's (NFLX) first-quarter results rose year-on-year, though the streaming giant's second-quarter outlook fell short of Wall Street's estimates.Per-share earnings climbed to $1.23 from $0.66 a year earlier. Revenue increased 16% to $12.25 billion, above the consensus on FactSet of $12.18 billion.Stronger-than-projected membership growth, higher pricing and increased ad revenue helped boost the top-line, Netflix said in a letter to shareholders.Wedbush Securities expected the streamer to post a revenue beat, saying the latest round of price increases could buoy Netflix's profitability this year.Last month, the company raised prices on all its plans in the US, including bumping its ad-supported standard tier to $8.99 per month.Netflix projects second-quarter revenue rising 13.5% year-over-year to $12.57 billion, lower than analysts' $12.64 billion estimate. EPS is pegged at $0.78, versus the consensus view of $0.84.Netflix sees operating margin falling to 32.6% in the ongoing three-month period from 34.1% in the year ago quarter.Shares were down 8% in after-hours trading."As we noted in last quarter's letter, growth in content amortization will be first-half weighted due to the timing of title launches," the company said. "We expect (second-quarter) to have the highest year-over-year content amortization growth rate in 2026, before decelerating to mid- to high-single-digit growth in the second half of the year."For 2026, Netflix continues to expect revenue of $50.7 billion to $51.7 billion, reflecting 12% to 14% of annual growth. The consensus estimate is for $51.37 billion.Last week, Wedbush raised its price target on Netflix to $118 from $115, citing expected revenue growth in 2026 amid a significant boost from advertising."Netflix should continue to gain incrementally from its ad business by expanding partnerships, improving targeting, leveraging (artificial intelligence), and adding more live content," Wedbush analyst Alicia Reese wrote in the note on Friday.Netflix said its co-founder and chairman, Reed Hastings, will not stand for re-election to the board when his current term expires in June.

$NFLX

US Markets22d ago

Big Banks Delivered Strong Capital Markets Performance in First Quarter, RBC Says

Major US banks delivered stronger-than-expected capital markets revenue in the first quarter amid solid gains in advisory and equities trading, RBC Capital Markets said in a note sent to clients Thursday.The combined capital markets revenue of JPMorgan Chase (JPM), Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), and Morgan Stanley (MS) climbed nearly 20% year over year, according to the brokerage.Their aggregate advisory revenue soared 68%, led by Goldman, RBC said. Total investment baking fees increased 31% from the year-ago quarter, including a boost from equity capital markets."We saw increased advisory revenues due the large deals announced in 2025 that closed in (the first quarter of 2026) and ECM revenues benefited from increased follow-on and convertible offerings," Gerard Cassidy, co-head of global financials research at RBC, said in the note.Equities trading rallied about 26%, with Citigroup logging the strongest performance and JPMorgan showing the smallest gain among the five banks.The banks' combined fixed income, currencies, and commodities revenue grew 10%, Cassidy said. All five banks except for Goldman achieved year-over-year growth in FICC.The lenders were "cautiously optimistic" about investment banking activity in the near term, factoring in macroeconomic and geopolitical uncertainties, according to the brokerage.The deadline for the expiration of a two-week ceasefire between the US and Iran is close. The White House is optimistic about reaching a deal with Tehran, noting that a potential second round of talks would likely be held in Pakistan. Prior peace negotiations in Islamabad ended without a deal last weekend."Many of the investment banks pointed to solid backlogs in (the first quarter) which we believe could be monetized in less volatile market conditions," Cassidy said. "The longer economic uncertainty and heightened market volatility exist, however, the more difficult it will be for the companies to grow their investment banking revenues."Price: $309.39, Change: $+3.46, Percent Change: +1.13%

$BAC$C$GS$JPM$MS

US Markets22d ago

Pending Home Sales Log Biggest Drop in 12 Months as War, High Costs Hit Demand, Redfin Says

Pending home sales in the US posted the biggest drop in a year, as the Middle East conflict and high costs dampened demand, Redfin said Thursday.Sales fell 4.1% year over year to 86,665 units in the four weeks through Sunday, according to the online real estate brokerage. Sales decreased in all but seven of the 50 biggest US metro areas, led by a roughly 18% slump in Providence, Rhode Island. San Francisco saw the largest increase of 9.6%, the report showed."Would-be homebuyers are backing off partly because the Iran war is causing widespread geopolitical and economic uncertainty, making some Americans wary of making a big purchase," Redfin said in a report. "It has also contributed to higher mortgage rates."The average 30-year fixed mortgage rate reached 6.3% in the week ended Thursday, down from a six-month high two weeks earlier, Redfin said, citing Freddie Mac data. The median home-sale price was at $393,059 in the four weeks ended Sunday, up 2.3% year over year and the biggest increase in a year, according to the report.Since the start of 2026, home-touring activity was up 11% as of Sunday, compared with a 40% jump a year earlier, Redfin said, citing ShowingTime. The brokerage said this indicates "unseasonably slow" demand among buyers."Luxury buyers aren't letting the high interest rates dissuade them, but for buyers on a tighter budget, the difference can be enough to kill affordability," Stacey Bryant, a Redfin Premier agent, said. "Cost-conscious buyers are also jittery about the rising prices of other things -- like gas, food and energy -- cutting into their budgets."Energy prices have surged following the US-Israel war with Iran that started at the end of February, with the crucial Strait of Hormuz effectively closed. The White House is optimistic about reaching a deal with Iran, noting that a potential second round of talks would likely be held in Pakistan. Meanwhile, a two-week ceasefire between Washington and Tehran still holds."Mortgage rates may swing up or down in the next few weeks, depending on the direction of the Iran war, the outcome of negotiation talks and oil prices," Redfin said.

US Markets22d ago

Equity Markets Rise Intraday as Trump Announces Israel-Lebanon Ceasefire

US benchmark equity indexes were higher intraday as President Donald Trump said Lebanon and Israel agreed to a 10-day ceasefire, adding to optimism around prospects for peace in the Middle East.The Nasdaq Composite was up 0.4% at 24,100.4 after midday Thursday, while the S&P 500 rose 0.2% to 7,037.9. Both benchmarks closed at record highs in the previous session. The Dow Jones Industrial Average was 0.1% higher at 48,528.2 intraday Thursday.Among sectors, energy paced the gainers, while health care saw the biggest drop.Trump said Thursday the ceasefire between Lebanon and Israel would begin at 5 pm ET."I will be inviting the Prime Minister of Israel, Bibi Netanyahu, and the President of Lebanon, Joseph Aoun, to the White House for the first meaningful talks between Israel and Lebanon since 1983," Trump said in a social media post. "Both sides want to see peace, and I believe that will happen, quickly."Lebanese Prime Minister Nawaf Salam welcomed Trump's announcement, which seeks to pause hostilities between Israel and Iran-backed Hezbollah in Lebanon, CNN reported. Hezbollah will abide by the ceasefire if Israeli attacks stop, the news outlet reported, citing a leading Hezbollah legislator, Ibrahim Moussawi.West Texas Intermediate crude oil was up 4.4% at $95.29 a barrel intraday, while Brent jumped 5.1% to $99.76."Oil is up over doubts that the Strait of Hormuz disruption will ease soon," D.A. Davidson said in a report.It will take about six months for the US and Iran to reach a peace deal, and the two sides should extend their ceasefire to cover that period, Bloomberg News reported Thursday, citing Gulf Arab and European officials familiar with the matter.US Treasury yields were higher intraday, with the 10-year rate up three basis points at 4.31% and the two-year rate rising one basis point to 3.77%.In company news, IBM (IBM) shares rose 2.4%, the second-top gainer on the Dow. The tech giant will likely exceed Wall Street's estimates for the first quarter and raise its revenue guide amid momentum in the software segment and an earlier completion of the Confluent acquisition, Oppenheimer said in a note.Abbott Laboratories (ABT) shares dropped 6.8%, the steepest decline on the S&P 500, after the healthcare company lowered its full-year earnings outlook to reflect the acquisition of cancer diagnostics firm Exact Sciences.Charles Schwab (SCHW) followed Abbott on the S&P 500, down 6%. The financial services provider's first-quarter results rose year over year amid a surge in client assets, though revenue fell short of the Street's estimates.In economic news, US industrial production unexpectedly decreased in March, Federal Reserve data showed.It's too soon to blame the Middle East conflict for the drop, which driven by "sharply falling" output in the mining and utilities sectors, Oxford Economics said in a note.Gold was down 0.3% at $4,807.10 per troy ounce, while silver fell 1.6% to $78.38 per ounce.

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US Markets23d ago

Ford's Restructuring 'Makes Sense,' EV Chief's Departure Risks Unsettling Investors, UBS Says

Ford Motor's (F) reorganization announced late Wednesday "makes sense," though the departure of electric vehicle chief, Doug Field, risks unsettling investors, UBS Securities said in a note emailed Thursday.The company merged its electric vehicle, digital and design team with the global industrial system into a new organization, to be led by Chief Operating Officer Kumar Galhotra. As part of the reshuffle, Chief EV, Digital and Design Officer Field will leave Ford."By uniting advanced technology with industrial execution, we can make decisions faster, eliminate complexity, and deliver great vehicles and digital experiences with the quality and efficiency our customers and shareholders expect," Galhotra said in a statement on Wednesday.UBS analysts, including Joseph Spak, said thinking about products holistically can create efficiencies."This type of reorganization makes sense," Spak wrote. "Better alignment, if achieved, could lead to more discipline and more on-time, on-budget launches."Ford said it plans to refresh 80% of its North American portfolio and 70% of its global portfolio by 2029.Field's departure may be viewed negatively as he was a key EV leader, UBS said. "This may cause investors to question upcoming (Universal Electric Vehicle) platform," Spak wrote.Ford's shares fell nearly 2% in Thursday trade.Alan Clarke became vice president of advanced development projects, and will continue to head the advanced EV development team, Ford said."We believe (Clarke) is well respected and liked so retention, talent and execution risk (from a reorganization) may be limited," Spak wrote.Price: $12.51, Change: $-0.20, Percent Change: -1.60%

US Markets23d ago

March Industrial Production Unexpectedly Drops; Oxford Economics Says Too Early to Blame War

US industrial production saw a surprise decrease in March, Federal Reserve data showed, though Oxford Economics said it's too soon to blame the Middle East conflict for the drop.Industrial output fell 0.5% last month following an upwardly revised 0.7% growth in February, the Fed said Thursday. The consensus was for a 0.1% increase in March in a survey compiled by Bloomberg."Industrial production was unexpectedly weak in the first month that covered the US/Israel-Iran war," Oxford Economics Lead US Economist Bernard Yaros said in remarks e-mailed to. "However, we wouldn't draw too many conclusions from March's decline, which was driven by sharply falling output in the mining and utilities sectors."Mining output dropped 1.2% last month, compared with a 2.1% rise in February, while utilities saw a 2.3% decrease after a gain of 1.8%, Fed data showed.Manufacturing output fell 0.1% in March following a 0.4% rise the month prior. The durable manufacturing index shed 0.2%, largely weighed down by a 3.7% drop in the motor vehicles and parts component."Production of motor vehicles and parts was a notable drag on factory activity, and this is one of the most vulnerable segments within manufacturing to the consumer impact from oil price shocks," Yaros said.Energy prices have soared amid the Iran war that started at the end of February, curtailing shipments through the crucial Strait of Hormuz. Over the weekend, US-Iran peace negotiations in Pakistan ended without a deal, but a two-week ceasefire between Washington and Tehran still holds."Since the outbreak of the Iran war, we have dialed back our forecast for growth in industrial production over the balance of 2026," Yaros said. "For now, the forecast doesn't anticipate any outright (quarter-over-quarter) industrial production declines, as key factors such as the (artificial intelligence) buildout and the investment incentives in last year's fiscal package will lend crucial support."Earlier in the week, government data showed that producer prices growth steadied in March as wholesale costs of energy surged amid volatility stemming from the Middle East conflict.

US Markets23d ago

Homebuilders' Earnings Likely to be Weighed Down by War Fallout, Soft Spring Selling Season, Truist Says

Several key US homebuilders' earnings this year are likely to take a hit, as the economic fallout from the Middle East conflict weighs on an already-soft spring selling season, Truist Securities said Thursday.The brokerage lowered its bottom-line estimates for the upcoming quarter and full year for six homebuilders. These are D.R. Horton (DHI), Meritage Homes (MTH), NVR (NVR), PulteGroup (PHM), Taylor Morrison Homes (TMHC), and Toll Brothers (TOL).Truist also trimmed its price targets for the six stocks, as it factored in inflation and the erosion in consumer confidence amid higher oil prices driven mainly by the US-Israel war with Iran that broke out at the end of February."The timing of this war was very unfortunate," Truist analyst Jonathan Bettenhausen said in a note to clients. "While we think industry expectations for this spring selling season were already calling for a roughly down low-single-digit environment from last year, we find it unlikely that a significant deterioration in the geopolitical environment was factored into those expectations."The brokerage said that while it's not expecting "many beats" among the stocks it covers, its favorite going into the latest quarterly print is Taylor Morrison. That stock likely has "the most bad news priced in," Bettenhausen wrote."We think any optimism on the spring selling season has effectively evaporated, and we have lowered our demand assumptions accordingly for (the first half) quarters, but also for the back half of the year on worse spring (build-to-order) new order demand," the analyst said.With new home sales and new residential construction data for March yet to be released, alternative market indicators such as mortgage reports and Google Trends "do not yield encouraging demand trends, which in our view, confirms the prevailing market sentiment on demand," according to the note.On Wednesday, the National Association of Home Builders and Wells Fargo said US homebuilder confidence sank this month to the lowest since September amid economic uncertainty, as well as increasing building material costs and interest rates.The White House is optimistic about reaching a deal with Iran, noting that a potential second round of talks would likely be held in Pakistan. Over the weekend, US-Iran peace negotiations in Islamabad ended without a deal. Meanwhile, a two-week ceasefire between Washington and Tehran holds.Price: $144.72, Change: $+0.52, Percent Change: +0.36%

$DHI$MTH$NVR$PHM$TMHC$TOL

US Markets23d ago

IBM Seen Beating First-Quarter Estimates, Oppenheimer Says

IBM (IBM) will likely exceed Wall Street's estimates for the first quarter and raise its revenue guide amid momentum in the software segment and an earlier completion of the Confluent acquisition, Oppenheimer said in a note Thursday.The brokerage raised IBM's first-quarter revenue estimate to $15.7 billion from $15.6 billion and reduced the earnings per share outlook to $1.70 from $1.77.IBM's software segment is seeing a pricing uplift on renewals of enterprise license agreements, according to the note. Open hybrid cloud technology company RedHat's contract values are trending 10% to 15% higher at renewal.Oppenheimer analysts, including Param Singh, expect IBM to raise its full-year revenue guidance by a percentage point to more than 6% at constant currencies, including a tailwind from an earlier close of the Confluent deal.IBM completed the acquisition of data streaming platform Confluent in March.IBM's software portfolio excluding Confluent, HashiCorp and RedHat is estimated to rise 7% in the calendar year 2026, driven by higher ELA pricing and larger contract sizes, Singh said.The company's consulting business is projected to grow 2.1% for 2026, excluding foreign exchange volatility, compared with consulting competitor Accenture (ACN), which recently guided to full-year 3% to 5% revenue growth, according to the note. IBM may face pressure from the US Department of Homeland Security shutdown that began on Feb. 14.The shutdown resulted from a legislative deadlock between Congress and President Donald Trump over immigration and customs reforms.Oppenheimer revised its price target on IBM's stock to $320 from $380, citing "recent compression in market multiples." The brokerage maintained its outperform rating.Price: $248.40, Change: $+3.60, Percent Change: +1.47%

$IBM

US Markets23d ago

Charles Schwab Misses First-Quarter Revenue View Despite Client Asset Growth

Charles Schwab's (SCHW) first-quarter results rose year over year amid a surge in client assets, even as revenue fell short of Wall Street's estimates.Per-share adjusted earnings rose to $1.43 for the March quarter from $1.04 a year earlier and surpassed the FactSet-polled consensus of $1.40. Revenue climbed 16% to $6.48 billion, while analysts expected $6.50 billion.The financial services provider's stock was down 4.8% intraday, and has fallen 4.5% since the start of the year."Client cash followed typical seasonal trends to begin the year," Chief Financial Officer Mike Verdeschi said during an earnings call, according to a FactSet transcript. "However, as volatility increased during the back half of the quarter, clients took a slightly more defensive posture."Client assets soared 19% annually to $11.768 trillion, with the company adding 1.3 million new brokerage accounts during the March quarter. That helped grow active brokerage accounts by 6% to 39.1 million."Clients continue to turn to us for more of their financial lives, helping wealth and banking solutions reach record levels in (the first quarter," Chief Executive Rick Wurster said in a statement.Net new assets surged to $139.9 billion from $132.4 billion a year earlier.Net interest revenue jumped 16% to $3.14 billion. Asset management and administration fees increased 15% to $1.76 billion, while trading revenue grew 20%, the company said.Charles Schwab is tracking higher than the $5.70 to $5.80 EPS range implied by the scenario outlined in January, Verdeschi told analysts."For the second quarter, we still anticipate the typical drawdown in client cash due to tax payments in April. And, similar to past years, we expect this activity to impact both transactional sweep cash, as well as other liquid cash alternatives, such as money market funds," Verdeschi said. "Beyond seasonal considerations, continued market volatility could influence client cash allocations."In a separate statement, Charles Schwab said it will soon start offering Schwab Crypto to retail clients interested in spot trading of bitcoin and ethereum. The company eventually intends to add additional cryptocurrencies to the platform.Price: $94.55, Change: $-5.72, Percent Change: -5.70%

$SCHW

US Markets23d ago

Abbott Cuts 2026 Earnings Outlook Following First-Quarter Beat

Abbott Laboratories (ABT) lowered its full-year earnings outlook on Thursday to reflect the acquisition of cancer diagnostics company Exact Sciences, while the healthcare firm reported first-quarter results above market estimates.The company now anticipates adjusted earnings of $5.38 to $5.58 per share for 2026, including a $0.20 dilution related to the Exact Sciences purchase. The company previously expected adjusted EPS to come in between $5.55 and $5.80 for the year, while the current consensus on FactSet is for $5.60.Abbott acquired Exact Sciences in March."The acquisition of Exact Sciences adds another high-growth business to the Abbott portfolio, further strengthening our confidence in delivering accelerating growth as we move through the year," Abbott Chief Executive Robert Ford said in a statement.Comparable sales, which includes the prior and current year sales of Exact Sciences, are pegged to grow by 6.5% to 7.5% for 2026, according to the company.Abbott's shares fell 4.1% in Thursday trade, taking its year-to-date loss to 22%.For the three-month period ended March, the firm's adjusted EPS rose to $1.15 from $1.09 the year before, surpassing the Street's view for $1.14. Sales improved 7.8% to $11.16 billion, topping the average analyst estimate of nearly $11 billion. Comparable sales were up 3.7%.Diagnostics sales rose 6.1% year over year to $2.18 billion, while the nutrition segment dropped 6% to $2.02 billion amid lower sales volume and pricing actions in the previous quarter, according to the company. Revenue in the established pharmaceuticals division climbed 13% to $1.43 billion.Sales in the global medical devices business jumped 13% to $5.54 billion, led by gains of 17% each in rhythm management and electrophysiology, Abbott said. Within the segment, the company recorded double-digit growth in heart failure and diabetes care.For the second quarter, Abbott forecasts adjusted EPS of $1.25 to $1.31, while the Street is looking for $1.36.Price: $97.09, Change: $-4.43, Percent Change: -4.36%

$ABT

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US Markets22d ago

Equity Markets Rise Intraday as Trump Announces Israel-Lebanon Ceasefire

$^DJI$^IXIC$^SPX$ABT$IBM$SCHW