Financial News · Live Terminal

Page 36 of 59

China's Trade Surplus Widens in April as Export Growth Accelerates

China's trade surplus widened significantly in April, boosted by a sharp jump in exports that surpassed market expectations amid geopolitical conflicts.The trade surplus grew to $84.8 billion in April from $51.1 billion in March, according to a release from China's customs administration on Saturday.The increase came as exports grew 14.1% year over year to $359.4 billion, faster than the 2.5% jump in exports in March and against analysts' 7.9% growth forecast in a Reuters poll.Analysts attributed the expansion to companies rushing to fulfill a wave of overseas orders to beat war-driven costs, according to a Reuters report.Meanwhile, exports to the US rose 11.3%, the fastest in 15 months, amid a widening merchandise trade deficit, Bloomberg said.China's external growth trend is seen to expand this year, and the next few months could benefit from a rebound in exports to the US, ING analysts said in a note on Saturday.Semiconductors could also push exports upward, according to Reuters."The conflict in the Middle East pushed up demand for global manufacturing inventory replenishment, and under the upward cycle of semiconductors, imports and exports maintained a boom," the newswire quoted ANZ (ASX:ANZ, NZE:ANZ) Senior China Strategist Xing Zhaopeng as saying.While the conflict in Iran is contributing a little to a halt in overseas sales, economic activity indicators stayed weak, Bloomberg Economics said.Meanwhile, imports climbed 15.3% to $274.6 billion, slower than the 27.8% expansion in March, but slightly faster than the 15.2% market forecast.China's total goods trade reached $634.1 billion in the first four months of 2026, up 18.7% from the previous year.

Shanghai Composite^SZSEASX:ANZNZE:ANZ

US Markets44d ago

Update: China's Factory-Gate Inflation Surges to 45-Month High, Topping Expectations

(Updated the headline to add "Factory-Gate"; updated the first paragraph to note that inflation accelerated)China's inflation accelerated in April, with producer prices surging to their highest level in nearly four years, driven by global energy volatility.The consumer price index climbed 1.2% year on year, according to Monday data from the National Bureau of Statistics, rising higher than 1% in the prior month and beating market estimates of a 0.9% rise.The prices for the non-food sector rose by 1.8%, but food prices dropped by 1.6%.Within the food category, meat prices declined by 6.7%, with pork prices surprisingly slumping 15.2%.Analysts believe the drag on pork prices will wane in the coming months, especially with pork prices expected to stabilize ahead of Beijing's upcoming Politburo."Destocking will likely quicken as the top leadership has called to stabilize pork prices at April's Politburo meeting," ANZ's senior China strategist, Zhaopeng Xing, said in a note. "We expect pork price to bottom out in H2 2026.""We expect this drag to fade in the coming months, though China's typical pork cycle could be affected by ongoing deals to buy soybeans, leading to oversupply," Lynn Song, ING's chief economist for Greater China, said. "With soybeans as a key input for pig feed, excess supply could potentially keep pork prices suppressed longer than normal."Meanwhile, China's producer price index jumped 2.8% in April from a year earlier, accelerating from the 0.5% growth in March, NBS data showed.The PPI surpassed market estimates of a 1.8% rise, as well as the 1.6% climb predicted by analysts surveyed by Reuters.Energy-related industries posted the largest year-over-year changes, reflecting the impact of the Middle East conflict on oil and energy prices.The oil and gas extraction sectors grew by 28.6%; petroleum, coal, and other fuel processing industries increased by 14.2%; and non-ferrous metal mining and beneficiation rose by 38.9%.ANZ estimated that gasoline's weight in the CPI was reduced to 2.9% from 3.3%, reflecting a shift towards electric vehicles as the Iran war caused oil prices to jump.However, the prices of consumer goods, especially food, clothing, and other daily necessities, all dropped, as did the prices of durable consumer goods.Song said it is likely that China's central bank may hold interest rates steady as a result of the better-than-expected CPI and PPI."It looks increasingly likely that such a move won't happen until at least the second half of the year, barring a significantly sharper-than-expected deterioration in activity data ahead," Song said.

Shanghai Composite^SZSE

US Markets44d ago

China's Inflation Surges to 45-Month High, Topping Expectations

China's inflation cooled less than expected in April, with producer prices surging to their highest level in nearly four years, driven by global energy volatility.The consumer price index climbed 1.2% year on year, according to Monday data from the National Bureau of Statistics, rising higher than 1% in the prior month and beating market estimates of a 0.9% rise.The prices for the non-food sector rose by 1.8%, but food prices dropped by 1.6%.Within the food category, meat prices declined by 6.7%, with pork prices surprisingly slumping 15.2%.Analysts believe the drag on pork prices will wane in the coming months, especially with pork prices expected to stabilize ahead of Beijing's upcoming Politburo."Destocking will likely quicken as the top leadership has called to stabilize pork prices at April's Politburo meeting," ANZ's senior China strategist, Zhaopeng Xing, said in a note. "We expect pork price to bottom out in H2 2026.""We expect this drag to fade in the coming months, though China's typical pork cycle could be affected by ongoing deals to buy soybeans, leading to oversupply," Lynn Song, ING's chief economist for Greater China, said. "With soybeans as a key input for pig feed, excess supply could potentially keep pork prices suppressed longer than normal."Meanwhile, China's producer price index jumped 2.8% in April from a year earlier, accelerating from the 0.5% growth in March, NBS data showed.The PPI surpassed market estimates of a 1.8% rise, as well as the 1.6% climb predicted by analysts surveyed by Reuters.Energy-related industries posted the largest year-over-year changes, reflecting the impact of the Middle East conflict on oil and energy prices.The oil and gas extraction sectors grew by 28.6%; petroleum, coal, and other fuel processing industries increased by 14.2%; and non-ferrous metal mining and beneficiation rose by 38.9%.ANZ estimated that gasoline's weight in the CPI was reduced to 2.9% from 3.3%, reflecting a shift towards electric vehicles as the Iran war caused oil prices to jump.However, the prices of consumer goods, especially food, clothing, and other daily necessities, all dropped, as did the prices of durable consumer goods.Song said it is likely that China's central bank may hold interest rates steady as a result of the better-than-expected CPI and PPI."It looks increasingly likely that such a move won't happen until at least the second half of the year, barring a significantly sharper-than-expected deterioration in activity data ahead," Song said.

Shanghai Composite^SZSE

US Markets46d ago

Nasdaq, S&P 500 Hit New Highs, Log Sixth Consecutive Weekly Gains

The Nasdaq Composite and the S&P 500 reached new peaks on Friday, boosting their weekly gains, following a stronger-than-expected jobs report.The Nasdaq climbed 1.7% to 26,247.1, while the S&P 500 added 0.8% to 7,398.9. The Dow Jones Industrial Average ended just above the flatline at 49,606.5.Among sectors, technology paced the gainers with a 2.7% jump, while utilities and healthcare saw the steepest drop.Micron Technology (MU) jumped 15% and Intel (INTC) soared nearly 14%, among the top gainers on the S&P 500. Apple (AAPL) gained 2.1% and Nvidia (NVDA) rose 1.8%, two of the five best performers on the Dow.This week, the Nasdaq logged a weekly gain of 4.5%, while the S&P 500 rose 2.3%. Both indexes marked their sixth consecutive weekly advance, which CNBC said is the longest win streak since 2024. The Dow posted a weekly gain of 0.2%.Total nonfarm payrolls rose by 115,000 last month, the Bureau of Labor Statistics said Friday, well above the 65,000 increase expected in a Bloomberg-compiled survey."Earlier signs hinted that the job market had actually been gathering strength in recent weeks, and the April nonfarm payroll report pounded home that reality with full force," Douglas Porter, chief economist at BMO Financial Group, said in a report.The unemployment rate was unchanged at 4.3% in April, in line with Wall Street's estimates.For the Federal Reserve, the hiring momentum further shifts the focus to inflation, keeping it on the sidelines for now, "and raising the possibility of future rate hikes," Stifel Chief Economist Lindsey Piegza said in a report e-mailed to.Brent advanced 0.6% to $100.68 per barrel in Friday late-afternoon trade, while West Texas Intermediate crude was little changed at $94.84. Both benchmarks were on track for weekly declines following two consecutive weekly advances.The US Central Command said Friday it fired on two Iranian-flagged empty oil tankers trying to bypass an ongoing blockade in the Strait of Hormuz. Washington expects Iran to respond to its peace proposal Friday, CNN reported, citing US Secretary of State Marco Rubio.The US and Iran traded fire Thursday in the narrow waterway, though a fragile ceasefire between the two appeared to still be holding.The United Arab Emirates intercepted two ballistic missiles and engaged three drones fires by Iran, the UAE's Ministry of Defense said on Friday.The oil market was "relatively calm" despite the flare-up of tensions between the US and Iran, Macquarie said in a report."We suspect that the market's calm reflects the unwillingness of the US to broaden the conflict beyond what's needed to protect US navy ships that are trying to secure safe passage through the strait for third-party commercial vessels," Macquarie said.US Treasury yields were lower, with the 10-year rate down 2.6 basis points at 4.37% and the two-year rate easing 1.2 basis points to 3.90%.US consumer sentiment continued to fall in May as cost pressures tied to the Middle East conflict sent the measure tumbling to fresh lows, a survey by the University of Michigan showed.In company news, Akamai Technologies (AKAM) shares surged nearly 27%, the best performer on the S&P 500. The company late Thursday disclosed a new $1.8 billion cloud infrastructure services contract with an unnamed company. The seven-year contract should help accelerate revenue growth, UBS Securities said, even though the brokerage is skeptical about the deal's impact on margins and profitability.Fluor (FLR) reported weaker-than-expected first-quarter results, while the engineering and construction company lowered the top end of its full-year earnings outlook. The company's shares tumbled 15%.Gold was up 0.5% at $4,732.90 per troy ounce, while silver gained 1.2% to $81.15 per ounce.

Dow JonesNasdaq CompositeS&P 500$AAPL$AKAM$FLR$INTC$MU$NVDA

US Markets46d ago

Akamai's Mega Computing Deal to Boost Revenue Amid Margin Concerns, UBS Says

Akamai Technologies' (AKAM) new $1.8 billion customer contract for computing services should help accelerate revenue growth, UBS Securities said in a note on Friday, even though the brokerage is skeptical about the deal's impact on margins and profitability.The seven-year contract with an unnamed "leading frontier model company" is the largest customer deal in the cloud services provider's history, Chief Executive Tom Leighton said during an earnings conference call on Thursday, according to a FactSet transcript.Akamai expects to start recognizing revenue against the contract in the fourth quarter, at $20 million to $25 million, Chief Financial Officer Ed McGowan told analysts. The company will spend $800 million to $825 million in capital expenditures over the next 12 months to support the new deal.Bloomberg News identified that customer as Anthropic, citing people familiar with the matter.Shares of Akamai soared about 27% at market close on Friday, and are up nearly 70% year to date."While we appreciate the large deal momentum and (revenue) growth acceleration, we're less confident in corresponding bottom-line growth," UBS analyst Roger Boyd wrote in the note.Akamai late Thursday raised the lower end of its full-year revenue guidance to $4.445 billion from $4.40 billion, leaving the top end of the outlook unchanged at $4.55 billion. The company raised the cloud infrastructure services outlook to at least 50% year-over-year growth at constant currencies. Analysts polled by FactSet expect $4.49 billion in consolidated revenue.Akamai lowered its full-year adjusted operating margin guidance to 26% from a prior outlook that called for 26% to 28%. UBS attributed that to upfront scaling costs and lower-margin new mega deals.The company is willing to accept cloud infrastructure services deals that are below its 30% medium-term margin target, Boyd said. Meanwhile, additional capital spending will push free cash flow close to breakeven or into negative territory in 2026, he said.The brokerage raised its price target on Akamai's stock to $160 from $110 and reiterated its neutral rating.The company said late Thursday its first-quarter adjusted earnings per share declined to $1.61 from $1.70 a year earlier, while revenue increased 6% to $1.07 billion. These were largely in line with consensus estimates on FactSet."Investor enthusiasm around the cloud infrastructure space could outweigh margin concerns (near term)," Boyd said.

$AKAM

US Markets46d ago

HubSpot's Concurrent Change to Pricing, Go-To-Market Focus Poses 'Significant' Execution Risk, BofA Says in Downgrade

HubSpot (HUBS) could face a "significant" execution risk from its simultaneous change to pricing, packaging and go-to-market focus, BofA Securities said Friday.Late Thursday, the customer relationship management platform provider raised its full-year outlook after delivering a first-quarter beat."We believe (artificial intelligence) value should be measured on outcomes, so we recently updated our pricing for agents to match," HubSpot Chief Executive Yamini Rangan said on an earnings conference call Thursday, according to a FactSet transcript. "Customer agent has moved to consuming credits based on resolved tickets, and prospecting agent has moved to qualified leads recommended for outreach."The company now offers a free 28-day trial for both agents, so customers can "see the value" before committing, Rangan told analysts."The biggest surprise from yesterday's print is that HubSpot is reorienting its go-to-market model to be agent-first, with reps now expected to position AI agents as the tip of the spear during sales conversations rather than traditional products," BofA analyst Matt Bullock said in a note to clients Friday.Last month, the company introduced a new outcomes-based pricing model for AI agents."While we view these moves as strategically sound for the long term, a concurrent change to both pricing/packaging and go-to-market focus introduces significant execution risk," Bullock said Friday. "We expect this to constrain investor sentiment until clear traction can be proven, which we believe could take multiple quarters."BofA downgraded its rating on the HubSpot stock to underperform from buy and slashed its price objective to $180 from $300. "We believe a lower multiple is justified given a meaningfully cloudier path to durable growth reacceleration," the analyst wrote.The company's shares were down nearly 20% in Friday late-afternoon trade, bringing its year-to-date losses to 51%.The changes announced by HubSpot have reduced BofA's confidence in a "meaningful" growth reacceleration in the second half of the year, the brokerage said in the note."The shift toward an agent-first sales motion could lengthen sales cycles and temper the historically consistent momentum of the core business," Bullock wrote. "At the same time, we note that end-market readiness for broad-based agent adoption remains unproven, creating additional uncertainty around near-term sales productivity."Price: $195.56, Change: $-48.16, Percent Change: -19.76%

$HUBS

US Markets47d ago

Oil Rises Amid Escalating Tensions Ahead of Iran's Response to US Proposal

Crude oil prices rose Friday as tensions flared up again in the Middle East conflict ahead of Iran's expected response to a US proposal to end the war.Brent crude futures advanced 1.3% to $101.34 per barrel, while West Texas Intermediate was last up 0.9% at $95.62.US forces disabled three empty Iranian oil tankers that violated the American blockade in the Strait of Hormuz in the past three days, US Central Command said Friday.The US and Iran traded fire Thursday in the narrow waterway.US Secretary of State Marco Rubio expects Iran to respond to Washington's peace proposal on Friday, CNBC reported."We'll see what the response entails," Rubio told reporters in Rome on Friday, according to CNBC. "The hope is it's something that can put us into a serious process in negotiation."The United Arab Emirates intercepted two ballistic missiles and engaged three drones fires by Iran, the UAE's Ministry of Defense said in a post on X on Friday. The development resulted in three injuries."While tensions have escalated, the US has signaled no immediate intent to intensify the conflict and is reportedly still awaiting Iran's response to a proposal to reopen the trade route," ING Bank Head of Commodities Strategy Warren Patterson said in a note.

US Markets47d ago

Equities Rise Intraday as Markets Parse Jobs Report; Middle East Tensions Send Oil Higher

US benchmark equity indexes were higher intraday as traders parsed the latest jobs report, while oil prices climbed amid renewed tensions in the Strait of Hormuz.The Nasdaq Composite was up 1.6% at 26,214.4 after midday Friday, while the S&P 500 rose 0.8% to 7,399.1. The Dow Jones Industrial Average was up 0.1% at 49,621.5. Among sectors, technology paced the gainers with a 2.7% jump, while healthcare saw the steepest drop.Total nonfarm payrolls rose by 115,000 last month, the Bureau of Labor Statistics said, well above the 65,000 increase expected in a Bloomberg-compiled survey."There is nothing in this (nonfarm payrolls) report to move the Federal Reserve off the sidelines on future rate cuts," BMO said in a note. "On balance, the solid jobs report makes the case for a near-term rate cut to stabilize a deteriorating labor market a more remote possibility."Separately, TD Economics said the pace of job growth appears to have improved since the end of last year, though "it's too soon to say whether the labor market is regaining momentum."West Texas Intermediate crude was up 1.2% at $95.95 per barrel, while Brent advanced 1.3% to $101.35.The US Central Command said Friday it fired on two Iranian-flagged oil tankers trying to bypass an ongoing blockade.Washington expects Iran to respond Friday on a proposal to end the war, CNN reported, citing US Secretary of State Marco Rubio, who added that he hopes "it's a serious offer."A ceasefire is still in effect, the news outlet reported, citing US President Donald Trump. US forces earlier said they targeted military facilities in Iran responsible for attacking its warships in the strait, according to the report."Brent crude trades firmer, holding above $100 after another volatile week that saw an almost $20 trading range as Middle East headlines swung sentiment between optimism and frustration," Saxo Bank said in a report Friday. "The key point remains unchanged: the Strait of Hormuz remains effectively closed, with renewed clashes between US and Iranian forces lowering the prospect of a near-term reopening."US Treasury yields were lower intraday, with the 10-year rate down 2.8 basis points at 4.37% and the two-year rate easing 2.4 basis points to 3.90%.In other economic news, US consumer sentiment continued to fall in May as cost pressures tied to the Middle East conflict sent the measure tumbling to all-time lows, a survey by the University of Michigan showed."Consumers continue to feel buffeted by cost pressures, led by soaring prices at the pump," Surveys of Consumers Director Joanne Hsu said. "Middle East developments are unlikely to meaningfully boost sentiment until supply disruptions have been fully resolved and energy prices fall."In company news, Fluor (FLR) reported weaker-than-expected first-quarter results, while the engineering and construction company lowered the top end of its full-year earnings outlook. The company's shares were down 15% intraday.Among big tech names, Intel (INTC) was up nearly 14%, among the top gainers on the S&P 500, while Nvidia (NVDA) rose 2%, the third-best performer on the Dow. Apple (AAPL), Amazon.com (AMZN), Micron Technology (MU) and Dell Technologies (DELL) were also advancing.Gold was up 0.3% at $4,724 per troy ounce, while silver advanced 0.6% to $80.65 per ounce.

Dow JonesNasdaq CompositeS&P 500$AAPL$AMZN$DELL$FLR$INTC$MU$NVDA

US Markets47d ago

McDonald's Results Show Fast-Food Giant Not Immune to Macro Challenges, RBC Says

McDonald's (MCD) delivered strong first-quarter results against a low bar, though there were signs that the fast-food giant is not immune to macroeconomic challenges, RBC Capital Markets said in a note e-mailed Friday.On Thursday, McDonald's reported better-than-expected results for the March quarter, with comparable sales rebounding more than market estimates despite what the company described as a "challenging" environment.While quick service restaurant industry traffic contracted in many of McDonald's top international markets, the company managed to gain market share in nearly all of them, led by the UK, Germany, and Australia, Chief Financial Officer Ian Borden said on an earnings conference call Thursday, according to a FactSet transcript."These three markets continue to demonstrate disciplined execution across value, menu, and marketing, with each market gaining share again this quarter and delivering comparable sales growth in the mid- to high-single-digit percent range," Borden told analysts.Overall comparable sales for the quarter were likely above buy-side, while the company also gained share among low-income US consumers amid its value offerings, RBC said in a the note to clients."While management still expects acceleration on a two-year basis for (the second quarter), April comps for US and (international operated markets) were slightly negative as macro headwinds weighed on the consumer, particularly in the US, while Minecraft lap is impacting IOM markets," RBC analyst Logan Reich said.The brokerage lowered its price target on the McDonald's stock to $305 from $330, with a sector perform rating.The company's shares were down 1.6% in Friday afternoon trade. The stock has lost 8.7% in value so far this year.RBC reduced its 2026 and 2027 adjusted earnings and revenue estimates for McDonald's.The brokerage cut the company's comparable sales estimates for this year "across the board" as heightened macro uncertainty weighs on top-line growth expectations, it said in the note. "Higher construction costs and franchisee profitability headwinds could limit unit growth in (2027) and beyond."Price: $280.62, Change: $-3.08, Percent Change: -1.09%

$MCD

US Markets47d ago

Consumer Sentiment Sinks to All-Time Low Amid Inflation Concerns

US consumer sentiment continued to fall in May as cost pressures tied to the Middle East conflict sent the measure tumbling to all-time lows, University of Michigan's preliminary survey showed Friday.The main sentiment index dropped to 48.2 in May from April's 49.8, which itself was a record low figure. The latest print marked the third consecutive monthly decrease. Wall Street expected a 49.5 print, according to Bloomberg's poll."Consumers continue to feel buffeted by cost pressures, led by soaring prices at the pump," Surveys of Consumers Director Joanne Hsu said in a statement. "Middle East developments are unlikely to meaningfully boost sentiment until supply disruptions have been fully resolved and energy prices fall."Energy prices have soared in the aftermath of the US-Israel war with Iran that has disrupted shipments through the Strait of Hormuz. A fragile ceasefire between Washington and Tehran appears to be holding, with the two sides said to be closing in on a peace deal.The year-ahead inflation outlook dropped to 4.5% this month from 4.7% in April, the University of Michigan survey showed. The current outlook is still well above the 3.4% reading in February, prior to the start of the Middle East conflict.The five-year inflation forecast fell to 3.4% from 3.5%.The gauge for current economic conditions declined 9% month-over-month to 47.8, while the expectations measure edged 0.8% higher to 48.5."Current conditions fell back about 9%, owing to a surge in concerns about high prices both for personal finances as well as buying conditions for major purchases," Hsu said. "Real income expectations continued a decline that began in March."

US Markets47d ago

Industry Headwinds, Iran War Drive Trade Desk's Weak Outlook, KeyBanc Says

Trade Desk's (TTD) second-quarter guidance trailed Wall Street's projections as the ad-buying software maker faces growth challenges from broader industry shifts and the impact of the Middle East conflict, KeyBanc Capital Markets said in a note emailed Friday.Trade Desk expects revenue of at least $750 million and adjusted earnings before interest, taxes, depreciation and amortization of about $260 million, it said late Thursday. The sales guidance came in below KeyBanc's expectations of $758 million and the Street's view that the brokerage put at $771 million.The adjusted EBITDA outlook also missed KeyBanc's and market estimates, according to the brokerage."Our sense is the combination of Middle East turmoil, ad agency tensions, and changes to industry structure are pressuring growth," KeyBanc analysts, including Justin Patterson, said. "While the first two factors could eventually reach a resolution, we do not see the competitive factor changing any time soon."The brokerage downgraded its rating on Trade Desk to sector weight from overweight."Global economic pressures, wars, and tariffs have created an environment that is harder for some brands and some brand categories to grow," Chief Executive Jeff Green said on an earnings conference call, according to a FactSet transcript. "Still, this environment also creates lots of opportunity for change and upgrade."Trade Desk shares were down 5.8% intraday Friday. The stock is down 42% year to date."The macro conditions plus (artificial intelligence) innovations are making the global advertising ecosystem as dynamic and changing as ever," Green told analysts. "We are in the best position to benefit from this current environment."For the quarter ended March 31, non-GAAP EPS fell to $0.28 from $0.33 a year earlier, while net sales climbed 12% to $688.9 million. Wall Street's views were for $0.32 and $678.9 million, respectively.Price: $22.00, Change: $-1.50, Percent Change: -6.36%

$TTD

US Markets47d ago

April Nonfarm Payrolls Top Views; Fed Seen Holding Rates Again

The US economy added more jobs than projected in April, allaying concerns about a slowdown in the labor market and likely allowing the Federal Reserve to stick to its current policy stance.Total nonfarm payrolls rose by 115,000 last month, the Bureau of Labor Statistics said Friday, well above the 65,000 increase expected in a Bloomberg-compiled survey. The increase in March was revised up by 7,000 to 185,000, while the fall in February was adjusted to 156,000 from 133,000, the BLS said."Payrolls were volatile through (the first quarter), largely due to temporary factors like inclement weather and a healthcare strike in California," Thomas Feltmate, senior economist at TD Economics, said in a report. "With those effects now in the rearview mirror, April provided as the first 'clean' read on hiring for 2026 and the underlying details were reasonably constructive, despite the recent surge in energy prices."Energy prices have surged in the aftermath of the US-Israel war with Iran that has disrupted shipments through the Strait of Hormuz. A fragile ceasefire between Washington and Tehran appears to be holding, with the two sides said to be closing in on a peace deal.Private payrolls growth slowed to 123,000 in April from 190,000 the month prior, the BLS reported. The Bloomberg consensus was for a 75,000 gain. The unemployment rate was unchanged at 4.3% in April, in line with Wall Street's estimates.The pace of job growth appears to have improved since the end of last year, though "it's too soon to say whether the labor market is regaining momentum," Feltmate said."This morning's report alongside other recent data points including initial jobless claims and job posting data by Indeed certainly help to assuage any fears that conditions have continued to cool," he said.The number of initial jobless claims came in below the Street's estimates on Thursday. Previously, ADP (ADP) said employment in the US private sector grew at its fastest pace in more than a year in April.The Fed, which late last month kept its policy rate steady for a third consecutive meeting, is widely expected to stay put again next month, according to the CME FedWatch tool.Following Friday's jobs report, Fed policymakers "can sit tight to better assess the extent to which higher energy prices bleed through to core measures of inflation in the months ahead," Feltmate said.The April policy statement contained a bias toward future rate cuts, though three regional Fed chiefs opposed including such language."There is nothing in this (nonfarm payrolls) report to move the (Fed) off the sidelines on future rate cuts," Scott Anderson, chief US economist at BMO, said. "On balance, the solid jobs report makes the case for a near-term rate cut to stabilize a deteriorating labor market a more remote possibility."Price: $211.44, Change: $-2.65, Percent Change: -1.24%

$ADP

US Markets47d ago

Fluor First-Quarter Results Miss Street Views; Lowers Top End of Full-Year Earnings Outlook

Fluor (FLR) reported weaker-than-expected first-quarter results on Friday while the engineering and construction company lowered the top end of its full-year earnings outlook.Adjusted earnings came in at $0.14 a share for the March quarter, down from $0.73 the year before, well below the FactSet-polled consensus of $0.62. Revenue fell 8% to $3.66 billion, trailing the Street's view for $3.89 billion.The stock tanked 12% in Friday trade. It's up 13% so far this year.For 2026, Fluor now anticipates adjusted EPS to come in between $2.60 and $2.80, Chief Financial Officer John Regan said during an earnings call, according to a FactSet transcript. In February, Regan said the company projected the metric to be at $2.60 to $3, while the current average analyst estimate is for non-GAAP EPS of $2.76.Adjusted earnings before interest, taxes, depreciation and amortization is now pegged at $525 million to $560 million for the ongoing year, reflecting a lower top end versus the previous guidance for $585 million.The outlook revision reflects cost growth on a mining project in the Americas in the first quarter and a temporary slowdown on another project due to geopolitical concerns in the Middle East, according to Fluor. The company noted that the rest of its overall business "continues to deliver at or above expectations.""The strong growth potential of our business is not impacted by the project charge in the quarter," Chief Executive Jim Breuer said in a statement. "With a disciplined project delivery model and strong liquidity, we are positioned to convert our growing pipeline, expand margins, and deliver sustained profitable growth."Revenue in the urban solutions segment increased to $2.44 billion from $2.16 billion in the 2025 quarter. The energy solutions division saw revenue decline to $703 million from $1.21 billion, reflecting reduced execution activity on several projects nearing completion, according to the company.The mission solutions business logged revenue of $523 million, down from $597 million a year ago.Price: $45.03, Change: $-6.05, Percent Change: -11.84%

$FLR

US Markets47d ago

China's Huayou to Purchase Australian Miner Amid Lithium Demand

Zhejiang Huayou Cobalt (SHA:603799) will purchase Australian miner Atlantic Lithium (ASX:A11) and its lithium assets in Ghana for about $210 million.The purchase comes as the war in Iran could raise demand for lithium, a key component in electric vehicle batteries, Nikkei Asia reported separately on Friday.Huayou will purchase the shares through a scheme of arrangement of $0.25486 per share, equivalent to 26.6% premium to Atlantic Lithium's last close of AU$0.280 per share, according to a filing with the Australian Securities Exchange on Thursday.South African company Assore International, Atlantic Lithium's largest shareholder, will vote in favor of the proposal.Atlantic Lithium, together with Elevra Lithium (ASX:ELV), control the Ewoyaa lithium mine in Ghana, which is expected to produce 3.6 metric tons of spodumene concentrate, a high-purity lithium aluminum silicate, over a mine life of 12 years, according to a previous announcement.The purchase "acknowledges Ewoyaa as a highly attractive hard rock lithium asset capable of serving the growing global electric vehicle and energy storage markets," Atlantic Lithium CEO Keith Muller said."The acquisition of the Ewoyaa Lithium Project complements our existing battery metal mining operations in Africa and represents a logical transaction for Huayou as we continue to build a new energy materials business," Chairman Chen Hongliang said.While cobalt is Huayou's main product, the Chinese miner also produces lithium, with sales rising 12% to 3.44 billion yuan, Nikkei reported.Huayou is the owner of the Arcadia lithium mine in Zimbabwe, the newspaper said.Shareholders in the Australian mining company will vote on the scheme in November, with the transaction expected to close in December, according to Atlantic Lithium.

ASX:A11ASX:ELVSHA:603799

US Markets47d ago

Wendy's Maintains Full-Year Outlook Following Surprise First-Quarter Revenue Growth

Wendy's (WEN) reiterated its full-year outlook on Friday as the fast food chain's fiscal first-quarter revenue unexpectedly increased year over year.The company continues to project adjusted earnings to come in between $0.56 and $0.60 per share for fiscal 2026. The current consensus on FactSet is for non-GAAP EPS of $0.57. Global systemwide sales are still pegged to be roughly flat.For the quarter ended March 29, Wendy's adjusted EPS fell to $0.12 from $0.20, but topped the Street's view for $0.10. Revenue increased 3.3% to $540.6 million, defying the average analyst estimate on FactSet for a decline to $518 million. On an adjusted basis, revenue improved 2.2%.The stock rose 4.7% in the most recent premarket activity."We are taking decisive action to strengthen the Wendy's system and improve performance," interim Chief Executive Ken Cook said in a statement. "Our focus on operational excellence is driving improvement in order accuracy and key customer satisfaction metrics."Same-restaurant sales around the world dropped 6.8%, more than the market's forecast for a decrease of 6.4%. In the US, the metric slipped 7.8% versus a 2.8% decline in the prior-year quarter. International same-restaurant sales edged down 0.4%, compared with growth of 2.3% last year."While our first-quarter results reflect a business in the early stages of a turnaround, we are making progress to improve our US business and are confident in the direction we are heading," according to Cook.Systemwide sales declined 5.5% on an annual basis in the quarter. International growth slowed down to 6% from 8.9%, while the US recorded a 7.3% drop. The company opened 50 new restaurants during the three-month period.Wendy's said it entered into a franchise agreement with an "experienced" restaurant operator to build up to 1,000 restaurants across China over the next decade, Cook said. "These actions are strengthening our foundation and positioning Wendy's to regain momentum and deliver sustainable growth and long-term value creation," the interim CEO added.Earlier in the week, McDonald's (MCD) and Burger King parent Restaurant Brands International (QSR) reported their first-quarter results that came in above Wall Street's estimates.

$WEN

US Markets47d ago

Stocks Rise Pre-Bell as Investors Assess Renewed Middle East Tensions, Await Jobs Report

The benchmark US stock measures were pointing higher before the open Friday as investors weigh renewed tensions in the Strait of Hormuz and await a key employment report for April.The S&P 500 rose 0.4%, the Dow Jones Industrial Average increased 0.2% and the Nasdaq added 0.6% in premarket activity. The indexes finished the previous trading session down, snapping a two-day winning streak.The US and Iran exchanged fire in the Strait of Hormuz on Thursday, with both sides accusing each other of initiating the attack, according to several media outlets.The US Central Command said its forces intercepted "unprovoked" Iranian attacks and carried out "self-defense" strikes, as US navy destroyers transited the crucial waterway to the Gulf of Oman. Iran reportedly accused the US of striking multiple targets in and around the strait.In a social media post on Thursday, President Donald Trump threatened to strike Tehran "a lot harder, and a lot more violently" in the future if it doesn't agree to a peace deal. Later, Trump told ABC News that the strikes against Iran were "just a love tap" and that the ceasefire between the two countries remains in effect."Markets continue to be cautiously optimistic toward the prospect of a US-Iran deal to end the war despite the appearances of the US administration pumping the deal vastly more than the other side," Scotiabank said in a note on Thursday.West Texas Intermediate crude oil nudged 0.4% higher to $95.18 a barrel before the opening bell, while Brent inclined 0.7% to $100.83.Treasury yields were trending lower in premarket action, with the two-year rate retreating 2.2 basis points to nearly 3.9% and the 10-year rate off 2.4 basis points to 4.37%.The nonfarm payrolls report for last month is scheduled to be released at 8:30 am ET. Government data is expected to show that the US economy added 65,000 jobs in April, compared with a 178,000 gain reported for the month prior, according to a Bloomberg poll.US job cuts increased in April to the third-highest total for the month since 2009 as technology companies continued to announce layoffs amid a shift toward artificial intelligence, Challenger Gray & Christmas said Thursday. On Wednesday, ADP (ADP) said employment in the US private sector grew at its fastest pace in more than a year.Friday's economic calendar also has the preliminary University of Michigan consumer sentiment report for May at 10 am, while the weekly Baker Hughes oil-and-gas rig count is out at 1 pm.On Thursday, a US trade court ruled that Trump's 10% global tariffs are not justified under a 1970s trade law, Reuters reported. In February, the Supreme Court invalidated Trump's reciprocal tariffs imposed in 2025 under the International Emergency Economic Powers Act. Following that decision, Trump announced a 10% global tariff, which he later said would rise to 15%.Shares of Airbnb (ABNB) moved 0.7% higher pre-bell after the vacation rental company reported higher-than-expected first-quarter revenue. Monster Beverage (MNST) climbed 6.5% as the energy drink firm's first-quarter results topped market estimates. CoreWeave (CRWV) fell 6.5% following its latest quarterly results.Iren (IREN) jumped 8.1% as the company said it secured a five-year artificial intelligence infrastructure cloud services contract with Nvidia (NVDA) worth $3.4 billion.Gold increased 0.4% to $4,730 per troy ounce, while bitcoin slipped 0.2% to $79,952.

Dow JonesNasdaq CompositeS&P 500$ABNB$IREN$MNST

US Markets47d ago

South Korea's Current Account Surplus Reaches Record High on Chip Exports

Buoyed by surging tech and semiconductor exports, South Korea's current-account surplus struck an all-time record in March, reported the Bank of Korea on Friday.The nation's current-account surplus reached $37.3 billion in March, dwarfing the previous zenith of $23.2 billion set in February, while notching South Korea's 35th-straight month of positive balance-of-payments, added the central bank.South Korea logged an international goods trade surplus of $35.1 billion in March, as exports ballooned to an all-time high of $94.3 billion, up 56.9% from a year earlier. The nation's imports increased by a lesser amount, 17.4% to $59.24 billion, noted the Bank of Korea.Central bank officials appeared confident South Korea's export boom would be sustained, despite geopolitical turmoil."The US-Iran war has hardly affected goods exports and imports in March," said a Bank of Korea statistician in a press conference, reported The Korea Herald. "The impact of the war will be seen in April, but it is not strong enough to change the overall trend."Exports of IT products in March rose 111.7% from a year earlier, including a 149.8% lift in chip shipments and a 167.5% increase in computer peripherals, reported The Korea Herald.In international services trade, South Korea registered a $1.29 billion deficit in March, said the Bank of Korea.In addition to the trade in goods surplus in March, South Korea's net primary income account surplus grew to $3.58 billion in March, elevated by increased dividend income from offshore direct and portfolio investments.Net primary income reflects earnings from global investments, such as interest and dividends from foreign subsidiaries, as well as wages earned by citizens working abroad, minus payments made to foreign investors from South Korean enterprises.The Bank of Korea also reported that offshore portfolio investors reduced their holdings of South Korean equities by $29.3 in March, on geopolitical concerns and profit-taking.Seoul's rising KOSPI equities index struck record highs in March, although the tech-heavy metric has continued to rally since, hitting another new all-time high on Friday.

^KOSPI

US Markets47d ago

Monster Beverage First-Quarter Results Top Street Views

Monster Beverage (MNST) shares rose early Friday as the company reported first-quarter results above market estimates amid strong growth in the energy drinks category.Adjusted earnings came in at $0.58 a share for the March quarter, up from $0.47 a year earlier, the energy drinks firm said late Thursday, while the consensus on FactSet was for $0.53. Sales climbed 27% to $2.35 billion amid a foreign-exchange tailwind of $89.3 million, topping the Street's view for $2.16 billion."We're pleased to report another quarter of strong financial results and cash generation," Chief Executive Hilton Schlosberg said during an earnings call, according to a FactSet transcript. "The global energy drink category remains healthy with continued robust growth."The stock increased 5.4% in the most recent premarket activity.Sales in the Monster energy drink segment advanced 28% to $2.19 billion, while the strategic brands division grew 29% to $126.7 million. Revenue in alcohol brands decreased 5.9% to $32.7 million. Sales to customers outside the US, which accounted for roughly 45% of total revenue, jumped by the same percentage to $1.06 billion. Sales in the US and Canada inclined by 16% year over year, according to Schlosberg.Gross profit as a percentage of sales declined to 55% from 56.5% last year due to geographical sales mix, increased aluminum can costs and higher freight-in expenses, partially offset by pricing actions, the company said.Tariffs and the increase in aluminum prices had a "modest" impact on Monster Beverage's results in the first quarter, Schlosberg said on the call. "Despite the modest impact on our business in the first quarter, the tariff landscape continues to be complicated and dynamic," the CEO noted.In February, the US Supreme Court invalidated President Donald Trump's reciprocal tariffs imposed in 2025 under the International Emergency Economic Powers Act. Following that decision, Trump announced a 10% global tariff, which he later said would rise to 15%.On Thursday, a US trade court ruled that Trump's 10% global tariffs are not justified under a 1970s trade law, Reuters reported."We do not believe, based on our business model, that the current tariffs will have a material impact on the company's operating results," Schlosberg told analysts. "However, based on current aluminum pricing and the Midwest premium, we expect a continued modest sequential increase in our costs through at least the end of 2026."

$MNST

US Markets47d ago

Nikon Swings to Full-Year Loss, Weighed by Weaker Sales

Nikon (TYO:7731) swung to a loss in the fiscal year ended March 31 as sales slowed down.The loss attributable to owners was 86.1 billion yuan, compared with an attributable profit of 6.12 billion yen a year ago, according to the company's earnings published Friday.The company posted a loss per share of 261.57 yen, versus an earnings per share of 17.17 yen in the prior year.Revenue slid 5.3% year on year to 677.2 billion yen from 715.3 billion yen due to lower sales in precision equipment, such as FPD lithography and semiconductor lithography systems.The precision equipment segment's revenue fell 17% year on year to 167.3 billion yen.The imaging products business remains one of the Japanese photographic equipment company's main drivers of the group's earnings. However, its revenue slipped 1.8% year on year to 290.1 billion yen amid tight competition and the impacts of the U.S. tariffs. The company's sale of its stake in Mark Roberts Motion Control also contributed to the decline in the segment's revenue.On the whole, the company's net sales dropped 14% to 387.9 billion yen from 452.8 billion yen in the previous year.Moreover, the components business segment's revenue rose to 76.1 billion yen from 74.1 billion yen in the previous year. Revenue beat the expected drop as the segment saw a boost in sales of video measuring systems for electronic components and semiconductor applications, as well as FPD photomask substrates.Japan's semiconductor industry seems to be withstanding the impact of the Middle East war, which threatens the global supply of oil and energy. Helium, which is drawn as a waste gas from liquefied natural gas plants, is one form of ingredient used in the production of semiconductors, according to the Observer Research Foundation on April 13. Uncertainty continues to grip energy exports and imports, as the Strait of Hormuz remains partially closed.Meanwhile, the company announced a full-year dividend of 40 yen per share.For the 2027 fiscal year, the company forecasted a return to profitability, expecting an attributable profit of 10 billion yen, or 30.36 yen per share.Revenue is anticipated to rise 9.3% year on year to 740 billion yen. The company expects to announce a dividend payout of 20 yen per share for the same period.Nikon's shares jumped nearly 6% at the close.

TYO:7731

US Markets47d ago

Nintendo's Fiscal 2026 Profit Jumps 52%; Warns of Tough Year Ahead With Switch Price Hikes

Nintendo's (TYO:7974) attributable profit grew 52% in fiscal 2026 on a blowout in sales but foresees a weaker year ahead.The Kyoto-headquartered game manufacturer's attributable profit rose to 424.1 billion yen in the year through March 31, 2026, from 278.8 billion yen in the previous fiscal year, according to a Friday disclosure to the Tokyo Exchange.The figure beat the 418.6 billion yen estimate by analysts at Visible Alpha.Earnings per share jumped to 364.51 yen from 239.47 yen in the preceding year. Visible Alpha analysts estimated earnings per share at 358.51.Revenue surged 99% to 2.313 trillion yen from 1.165 trillion yen in the previous fiscal year. Despite the surge, the figure failed to meet the forecast of 2.322 trillion yen by Visible Alpha analysts.Dedicated video game platform sales, including hardware and software, surged 107% to 2.240 trillion yen from 1.084 trillion yen.Hardware sales of its Pokémon Pokopia game, released in March, jumped to 19.9 million units, while its Mario Kart World software saw sales reach 14.7 million units, including bundle sales.Sales of the Nintendo Switch, which has reached its 10th year, totaled 3.8 million units, down 65% from the 10.8 million units in fiscal 2025, the game manufacturer said.Intellectual property sales fell 9.7% year over year to 73.5 billion yen as movie-related revenue declined.Its spring offering, "Super Mario Galaxy Movie," grossed $800 million worldwide in its first four weeks.For fiscal 2027, the game manufacturer forecasts net profit to plunge 27% to 310 billion yen and sales to slide 11% to 2.050 trillion yen, taking into account an impact of 100 billion yen from rising component prices, including memory, and tariffs.Sales of the Nintendo Switch 2, which reached 19.9 million in fiscal 2026, could fall 17% to 16.5 million in fiscal 2027, still signaling "a solid level of adoption" for the device in its second year since launch, the company said.Nintendo Switch sales are forecast to fall 47% to 2 million units in fiscal 2027, the company said.Also on Friday, the company announced price adjustments for its Nintendo Switch and Nintendo Switch 2 consoles at home and overseas.In Japan, effective May 25, the price of Switch 2 will increase 20% to 59,980 yen from 49,980 yen. Nintendo Switch prices will also increase across its OLED, standard and Lite variants.In the US, Nintendo will hike the price of the Switch 2 to $499.99 from $449.99. The price adjustment for the newer console, starting Sept. 1, will also take effect in Canada and Europe.The company retained the price of its Nintendo Switch model in the US, Canada and Europe, but warned of further price revisions for the Switch 2 and the standard Switch in other regions.Nintendo declared a dividend of 177 yen per share, more than double the 85 yen declared in the previous fiscal year. For fiscal 2027, Nintendo could pay a dividend of 162 yen per share.

TYO:7974

Showing 701-720 of 1175

US Markets46d ago

Nasdaq, S&P 500 Hit New Highs, Log Sixth Consecutive Weekly Gains

Dow JonesNasdaq CompositeS&P 500$AAPL$AKAM$FLR$INTC$MU$NVDA