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Concerns Fueled by OpenAI Report Overblown as Demand Remains Strong, Wedbush Says

OpenAI continues to see strong enterprise demand, Wedbush Securities said, dismissing growth concerns that surfaced after a report showed that the ChatGPT parent missed its sales targets.Shares of several chip makers came under pressure Tuesday, including Nvidia (NVDA), Broadcom (AVGO) and Advanced Micro Devices (AMD), as The Wall Street Journal reported that OpenAI recently fell short of its own targets for new users and revenue.Chief Financial Officer Sarah Friar told other companies that OpenAI may not be able to pay for computing contracts if revenue growth doesn't accelerate, The Journal reported. OpenAI is aiming for an initial public offering, according to media reports."Overall, we believe OpenAI has been tracking very high demand on both the consumer and enterprise front and we strongly disagree with the notion that growth is weakening," Wedbush analyst Dan Ives wrote in a client note Tuesday. "We believe that recent concerns around OpenAI are overblown with the company having enough capital to fulfill its compute capacity needs over at least the next three years following the company's recent $122 billion funding round."The brokerage allayed concerns particularly about Oracle (ORCL), which counts OpenAI among its largest cloud customers. OpenAI in September 2025 signed a deal to purchase $300 billion in computing power from Oracle over a five-year period, The Journal reported at the time.That deal, which reflects the bulk of Oracle's $553 billion backlog, is expected to drive $30 billion in revenue for the cloud computing company, according to Wedbush.Oracle shares declined 3.6% in late Tuesday afternoon trade, and have slumped about 14% so far this year."We believe the pullback in (Oracle) shares represent a solid buying opportunity with OpenAI set to go public by the end of this year providing the company with fresh access to capital from public markets," Ives said.Last month, Oracle reported fiscal third-quarter results that surpassed Wall Street's estimates, buoyed by strong demand for cloud computing amid an artificial intelligence boom. Earlier this year, the company said it was planning to raise up to $50 billion to expand its cloud infrastructure business and add capacity to meet demand from some of the largest tech companies.Price: $166.51, Change: $-6.46, Percent Change: -3.73%

$AMD$AVGO$NVDA$ORCL

US Markets56d ago

Hershey's First-Quarter Results Likely to be Strong Amid 'Solid' Consumption Trends, RBC Says

Hershey (HSY) is expected to post strong first-quarter results amid "solid" consumption trends, while the chocolate maker will likely affirm its 2026 outlook, RBC Capital Markets said Tuesday.Scanner data indicate "solid" consumption at the total company level in the quarter, driven by strong gains in confection and salty snacks, the brokerage said in a note to clients. Hershey is scheduled to report first-quarter results Thursday."With an earlier Easter, confection data for the final week of March is up strong (over high-teen percentage)," Nik Modi, RBC's co-head of global consumer and retail research, said. "This level of growth would suggest that (Hershey) will be able to clear topline growth expectations."RBC expects first-quarter earnings of $2.08 a share on revenue of $3.03 billion. Wall Street is looking for $2.05 and $3.03 billion, respectively, according to the note. Although the three-month period was guided to be "the strongest quarter on the topline," margins are expected to be pressured by high cost of inventory, Modi said.The brokerage expects Hershey to reaffirm its full-year outlook given that the company is just one quarter through its fiscal year and maintained the outlook just recently. "That said, we see a more neutral risk to reward given the high bar that (Hershey) set for itself this year," Modi wrote.Late last month, company said it continued to expect full-year adjusted EPS to grow 30% to 35% and net sales to rise 4% to 5%.The management's tone was positive at its investor day, with its long-term outlook suggesting the company has EPS visibility through 2027, RBC said. "With that said, the proof is now in the pudding on whether (Hershey's) strategy can revert ongoing volume declines and market share losses."The brokerage has a sector perform rating on Hershey's stock with a $212 price target.Price: $187.29, Change: $+0.80, Percent Change: +0.43%

$HSY

US Markets56d ago

February Annual Home Price Growth Decelerates as Housing Slowdown Broadens, S&P Says

US home price growth decelerated annually in February, with more than half of major metropolitan markets logging decreases, S&P Global (SPGI) division S&P Dow Jones Indices said Tuesday.The national S&P Cotality Case-Shiller Index rose 0.7% year over year in February without seasonal adjustments, down from a 0.8% increase the month prior. The 10- and 20-city composites increased 1.5% and 0.9%, respectively, both slowing down from January's growth rates."More than half of major US metropolitan markets posted year-over-year price declines in February, signaling that the housing slowdown has broadened well beyond its Sun Belt origins," said Nicholas Godec, head of fixed income tradables and commodities at S&P Dow Jones Indices. "With consumer inflation at 2.4%, US home values have lost ground in real terms for nine consecutive months."Among the 20 cities, Chicago saw the highest annual gain in prices in February, up 5%, followed by New York and Cleveland. Denver logged the lowest return, down 2.2%, according to the report.Sequentially, pre-seasonally adjusted national home prices increased 0.3% in February, compared with the previous month's 0.2% decline. The 10-city composite index was up 0.6%, while the 20-city composite increased 0.4%, the data showed."Monthly data offered a modest seasonal lift without underlying momentum," Godec said. "Mortgage rates near 6% continue to weigh on affordability and transaction activity, holding nominal price growth below inflation."Separately, the Federal Housing Finance Agency said US home prices were unchanged sequentially in February after January's 0.1% gain was revised upward to 0.2%. Annually, prices increased 1.7% in February, according to the report.Price: $444.38, Change: $+7.16, Percent Change: +1.64%

$SPGI

US Markets56d ago

Consumer Confidence Logs Surprise Gain Despite High Gas Price Concerns, Conference Board Survey Shows

US consumer confidence unexpectedly rose in April amid an improvement in labor market perceptions, though there were concerns about elevated gasoline prices driven by the Middle East conflict, a survey by the Conference Board showed Tuesday.The consumer confidence index moved up to 92.8 this month from March's upwardly revised reading of 92.2. The consensus was for an 89 print in a Bloomberg survey. The Conference Board said its survey ran from April 1 through April 22, a period that included a temporary two-week ceasefire in the Middle East conflict starting April 8."Consumer confidence edged up in April, but was overall little changed, despite material concern about rising gasoline prices as the war in the Middle East prompted a surge in Brent crude oil prices," Conference Board Chief Economist Dana Peterson said.Consumer appraisals of current and expected business conditions fell this month, offset by "modest improvements" in perceptions of the labor market, both existing and projected, as well as income expectations, Peterson said.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 narrow waterway is the world's most important chokepoint for crude flows. The conflict paused following a recent ceasefire between the US and Iran and later between Israel and Lebanon.US retail gasoline prices averaged $4.176 per gallon Tuesday, compared with $3.150 a year ago, according to data from AAA, a travel organization that tracks fuel prices in the country.The present situation measure dropped 0.3 points sequentially to 123.8 in April, while the expectations component increased 1.2 points to 72.2, the Conference Board said.Consumers' average and median one-year inflation expectations "ticked downward" this month, but remained elevated, according to the survey.On Friday, a survey by the University of Michigan showed that US consumer sentiment this month improved from an initial April estimate, but remained at a record low as near-term inflation expectations logged the biggest monthly increase in a year.

US Markets56d ago

Equities Mostly Lower Intraday as OpenAI Report Sparks Tech Sell-Off

US benchmark equity indexes were mostly lower intraday, with technology stocks under pressure following a report that OpenAI missed its sales target, while oil prices rose.The Nasdaq Composite was down 1.3% at 24,575.3 after midday Tuesday, while the S&P 500 shed 0.7% to 7,127. The Dow Jones Industrial Average rose 0.2% to 49,268.9. Among sectors, technology saw the steepest decline, shedding 1.9%, while energy paced the gainers.Tech bellwether Nvidia (NVDA) was down 3% intraday, the worst performer on the Dow. Broadcom (AVGO), Advanced Micro Devices (AMD), Oracle (ORCL), and Intel (INTC) also declined. Microsoft (MSFT), however, was up 0.7%.OpenAI recently missed its own targets for new users and revenue, The Wall Street Journal reported, citing unnamed sources."The WSJ in part frames this story as a concern for datacenter spend, with OpenAI having over invested while sales are slowing," Wedbush Securities analyst Matt Bryson said in a note e-mailed to. "We believe infrastructure demand remains robust, driven in large part by (artificial intelligence) usage growth, creating a broad based demand driver for semiconductor and component vendors."In other company news, Coca-Cola (KO) lifted its full-year earnings growth outlook on Tuesday as the beverages giant posted fiscal first-quarter results above market expectations amid pricing and volume gains. The stock was up 6.3% intraday, the best performer on the Dow and the second-biggest gainer on the S&P 500.Spotify Technology (SPOT) shares were down 13% after the audio-streaming platform's premium subscriber growth and outlook disappointed investors.West Texas Intermediate crude was up 3.6% at $99.84 per barrel, while Brent crude climbed 2.8% to $111.34.US President Donald Trump and national security officials are skeptical of Iran's new offer to open the Strait of Hormuz and delay talks on uranium enrichment, The Journal reported, citing American officials.Elsewhere in the world, the United Arab Emirates has decided to leave the Organization of the Petroleum Exporting Countries on Friday, in a move that Rystad Energy said makes the cartel "structurally weaker."The UAE is one of the few OPEC members, including Saudi Arabia, that have spare capacity, Rystad said in a note. OPEC uses a production quota system to stabilize global oil markets."Its departure therefore removes one of the core pillars underpinning OPEC's ability to manage the market," Rystad Head of Geopolitical Analysis Jorge Leon wrote.The Fed's monetary policy committee kicked off its two-day meeting on interest rates, with a decision due Wednesday. Markets widely expect the central bank to keep its benchmark lending rate unchanged for a third consecutive meeting, according to the CME FedWatch tool.US Treasury yields were higher intraday, with the 10-year rate up 1.8 basis points at 4.36% and the two-year rate rising 4.1 basis points to 3.84%.Gold was down 2.1% at $4,593.10 per troy ounce, while silver lost 2.8% to $72.95 per ounce.

Dow JonesNasdaq CompositeS&P 500$AMD$AVGO$INTC$KO$MSFT$NVDA$ORCL$SPOT

US Markets56d ago

Kimberly-Clark First-Quarter Results Top Views; Full-Year Outlook Affirmed

Kimberly-Clark (KMB) reported better-than-expected first-quarter results and maintained its full-year outlook Tuesday, while the consumer goods maker flagged potential incremental input cost headwinds of up to $170 million in the second half due to elevated oil prices.The Kleenex tissues maker's adjusted earnings attributable to the company rose to $1.97 a share for the March quarter from $1.93 a year earlier, which was the consensus on FactSet. Net sales improved 2.7% to $4.16 billion, topping the Street's view for $4.09 billion.The company's shares were up 1.1% in Tuesday afternoon trade. So far this year, the stock has lost 1.6% in value.Kimberly-Clark said it continues to expect full-year adjusted EPS from continuing operations to grow at a double-digit rate, while adjusted EPS attributable to Kimberly-Clark are still seen flat, both on a constant-currency basis.The company also continues to expect 2026 organic sales to grow in line to ahead of the weighted average growth in the categories and countries it competes, which for the latest 12 months grew at roughly 2.5%, it said.Kimberly-Clark could face gross incremental input cost headwinds of between $150 million and $170 million in the second half of the year, if oil prices stay at the $100 a barrel level, Chief Financial Officer Nelson Urdaneta said in prepared remarks on the company's website.Energy prices have soared following the US-Israel war with Iran that started at the end of February, with the Strait of Hormuz -- the world's most important chokepoint for crude flows -- effectively closed. The conflict paused following a recent ceasefire between the US and Iran and later between Israel and Lebanon.Kimberly-Clark's first-quarter international personal care business revenue climbed 9.1% to $1.51 billion, buoyed by organic sales growth of 4% and favorable currency impacts. Sales in North America fell 0.6% to $2.65 billion, driven by a 2.7% headwind from the exit of the company's private label diaper business in the US, partially offset by organic sales growth of 1.8%."We continued to deliver solid volume-plus-mix performance while building share momentum despite continued geopolitical and macroeconomic uncertainty," Chief Executive Mike Hsu said in a statement. "We continue to generate meaningful cost savings that reinforce our strong financial foundation and enable us to invest in our exciting future."For the second quarter, Kimberly-Clark expects to incur a $50 million headwind related to a recent fire at its Ontario, California, distribution center, "as well as some incremental costs due to the conflict in the Middle East," Urdaneta said. "We expect to fully mitigate these costs in the second half of the year with the many levers available within our integrated margin management capabilities."Price: $99.40, Change: $+1.15, Percent Change: +1.17%

$KMB

US Markets56d ago

United Parcel Service Affirms Guidance Amid Iran War-Linked Demand Risks

United Parcel Service (UPS) maintained its 2026 revenue outlook as the package delivery giant flagged a potential demand impact from the Middle East conflict.The company continues to anticipate revenue of about $89.7 billion this year, while the consensus on FactSet is for $89.62 billion. UPS pegged the adjusted operating margin at about 9.6%."As we look to the balance of the year, there are a few external factors that we are watching that could impact demand, especially higher fuel costs stemming from the conflict in the Middle East and US consumer confidence, which is at historic lows," Chief Executive Carol Tome said during an earnings call, according to a FactSet transcript.The company's stock was falling 4.3% in Tuesday trade.The US-Israel war with Iran has disrupted shipments through the Strait of Hormuz. That conflict has boosted fuel costs, Chief Financial Officer Brian Dykes told analysts.The hostilities paused following a ceasefire between the US and Iran and later between Israel and Lebanon, but there's no framework yet on reaching a long-lasting peace deal."Our fuel surcharges are linked to published fuel benchmarks and adjust with fuel prices on a weekly basis, and we expect these surcharges to provide coverage as fuel prices continue to fluctuate," Dykes said.In the March quarter, UPS' revenue fell 1.6% year-on-year to $21.20 billion, compared with the Street's $20.98 billion forecast. Adjusted EPS declined to $1.07 from $1.49 a year ago, beating the average analyst estimate of $1.01.US domestic package revenue fell to $14.13 billion from $14.46 billion in the prior-year period amid lower volume. International revenue rose 3.8% to $4.54 billion.The company's expects revenue to grow by a low single digit in the second quarter, Dykes said on the call.In January, UPS said it planned to slash its workforce by up to 30,000 positions related to a planned reduction in Amazon's (AMZN) deliveries in its network.Price: $103.03, Change: $-5.21, Percent Change: -4.81%

$UPS

US Markets56d ago

Spotify Tops First-Quarter Profit Estimates; Premium Subscriber Growth, Outlook Disappoint

Spotify Technology (SPOT) reported stronger-than-expected first-quarter profit, while the audio-streaming platform's premium subscriber growth and outlook disappointed investors, sending the stock lower in Tuesday trading.For the March quarter, per-share earnings rose to 3.45 euros ($4.04) per diluted share from 1.07 euros a year earlier, topping the FactSet consensus of 2.95 euros. Revenue climbed 8% to 4.53 billion euros, in line with estimates.Monthly active users increased 12% to 761 million, while Wall Street expected 759.1 million. Premium subscribers increased 9% to 293 million, though analysts projected growth to 293.2 million."We added 3 million net subscribers during the quarter, finishing at 293 million, in line with our guidance," Chief Financial Officer Christian Luiga said on an earnings call with analysts, according to a FactSet transcript. "We saw no surprises with respect to price increase-related churn following our January US price increase."Spotify's New York Stock Exchange-listed shares fell 14% intraday. The stock has dropped 26% this year.In the current quarter, Spotify expects revenue of 4.8 billion euros, while analysts are looking for 4.77 billion euros. The company projects monthly active users to increase by 17 million to 778 million, above the consensus of 774.8 million. Premium subscribers are anticipated to increase by 6 million to 299 million, versus Wall Street's forecast 300.4 million.Guidance for premium subscriber growth is "modestly below the significant outperformance we saw in the prior-year quarter, which benefitted from items such as favorable adjustment to our iOS app in the US," Luiga said.Premium revenue in the March quarter jumped 10% to 4.15 billion euros, while ad-supported revenue declined 5% to 385 million euros."Brands have always valued Spotify for its high user engagement, its beloved brand and its high-quality content, but the market shifted," CEO Alex Norstrom said on the call. Advertisers' pivot to biddable buying prompted a rebuild of the company's ad stack to tap into that market, he said.Price: $428.60, Change: $-67.22, Percent Change: -13.56%

$SPOT

US Markets56d ago

Coca-Cola Raises Full-Year Earnings Outlook Following First-Quarter Beat

Coca-Cola (KO) lifted its full-year earnings growth outlook on Tuesday as the beverages giant posted fiscal first-quarter results above market expectations amid pricing and volume gains.The company now anticipates adjusted earnings to rise by 8% to 9% in 2026, compared with its previous projection for an increase of 7% to 8%. The current consensus on FactSet is for non-GAAP earnings of $3.22 per share, which would imply 7.3% growth from $3 reported for 2025.The group continues to expect organic revenue to grow by 4% to 5% this year."Notwithstanding volatility in certain commodities like tea and coffee, we believe the overall impact on our cost basket is manageable at this time," Chief Financial Officer John Murphy said during an earnings call, according to a FactSet transcript. "However, uncertainty stemming from geopolitical tensions may cause this outlook to change."Shares of the Fanta and Sprite maker were up 5.9% in Tuesday trade, taking year-to-date gains to 14%.Earlier in April, rival PepsiCo (PEP) reiterated its full-year outlook and reported higher-than-expected fiscal first-quarter results.Coca-Cola's adjusted EPS advanced to $0.86 for the quarter ended April 3 from $0.73 the year before, topping the Street's view for $0.81. Adjusted revenue climbed to $12.47 billion from $11.22 billion, ahead of the average analyst estimate on FactSet of $12.24 billion.Pricing gains buoyed the top line and volume rose 3%, led by China, the US and India, the company said.Concentrate sales, which reflect the quantity of concentrates, syrups, beverage bases, source waters and powders and minerals sold by the company, moved 8% higher on a yearly basis."The external environment differed greatly across our market," Chief Executive Henrique Braun said on the call. "While many consumers remain resilient, others are under pressure due to persistent inflation, greater macroeconomic uncertainty and volatility driven by the conflict in the Middle East."Price: $79.54, Change: $+4.08, Percent Change: +5.41%

$KO

US Markets56d ago

General Motors Lifts 2026 Earnings Outlook Amid Reduced Tariff Costs

General Motors (GM) raised its full-year earnings outlook and trimmed its tariff hit forecast on Tuesday, as the automaker reported an unexpected year-over-year increase in its first-quarter bottom line.The company now anticipates adjusted earnings to be in a range of $11.50 to $13.50 per share for 2026, up from its previous guidance of $11 to $13. The current consensus on FactSet is for non-GAAP EPS of $12.20.GM now sees gross tariff costs of between $2.5 billion and $3.5 billion for the current year, compared with its prior expectations of $3 billion to $4 billion, citing a favorable adjustment of $500 million related to the US Supreme Court's decision in February to invalidate President Donald Trump's reciprocal tariffs imposed under the International Emergency Economic Powers Act.The company opted to maintain its full-year adjusted automotive free cash flow forecast range of $9 billion to $11 billion, as the cash refund timing of the IEEPA adjustment is uncertain, it said in an earnings presentation.Chief Executive Mary Barra and company "continue to navigate this very difficult tariff and (electric vehicle) environment while tapping into alternative revenue streams with high margins to stabilize its margins," Wedbush Securities said in a client note. The brokerage maintained its outperform rating on the automaker's stock.GM posted adjusted EPS of $3.70 for the March quarter, up from $2.78 the year before, defying the Street's view for a decline to $2.60. Revenue slipped 0.9% to $43.62 billion, but came in ahead of the average analyst estimate of $43.51 billion."In the first quarter of 2026, General Motors once again delivered strong financial performance," Barra said in a letter to shareholders. "We have solid momentum in our core operations."Revenue in North America decreased to $36.4 billion from $37.39 billion in the 2025 quarter, while international sales advanced to $2.86 billion from $2.43 billion. Consolidated vehicle sales dropped to 1.29 million units from 1.45 million last year, with sales in the US market falling to 626,000 vehicles from 693,000."We are clearly operating in a very dynamic environment, which isn't unusual for this industry," according to Barra. "That's why we have had a multi-year focus to ensure we have the right products, the right team, and a strong balance sheet supported by healthy cash flows to achieve our long-term goals."

$GM

US Markets56d ago

Stocks Mostly Down Pre-Bell as Traders Monitor Developments on US-Iran Negotiations; Fed Policy Meeting on Deck

US equity futures were mostly pointing lower on Tuesday as traders monitor developments on negotiations between the US and Iran and await the Federal Reserve's latest decision on interest rates, along with a fresh round of corporate earnings.The S&P 500 decreased 0.2% and the Nasdaq declined 0.6%, while the Dow Jones Industrial Average inclined 0.3% in premarket activity. The Nasdaq and S&P 500 finished Monday trading with new closing highs for a second consecutive session, while the Dow ended in the red.White House Press Secretary Karoline Leavitt reportedly said Monday that President Donald Trump reviewed a new proposal from Iran to reopen the crucial Strait of Hormuz with national security officials, according to Bloomberg News. Trump has made his "red lines" extremely clear with respect to Iran and will address the matter "very soon," Leavitt said.Tehran recently submitted a proposal to reopen the Strait of Hormuz and delay talks on uranium enrichment, Axios reported, citing a US official and two other sources.West Texas Intermediate crude oil rose 3.5% to $99.73 a barrel before the opening bell, while Brent gained 2.8% to $111.28.The Fed's monetary policy committee is set to kick off its meeting on interest rates today, with a decision due tomorrow. Markets widely expect the central bank to keep its benchmark lending rate unchanged for a third consecutive meeting, according to the CME FedWatch tool.With the Federal Open Market Committee's decision unlikely to surprise, the market is expected to focus on the policy statement and post-meeting remarks of Chair Jerome Powell, said David Doyle, head of economics at Macquarie Group."Given that elevated oil prices have persisted for nearly two months now, future guidance may shift somewhat," he said in a Monday report e-mailed to. "This would be in contrast to March where there were limited changes made. Our view remains that the next policy move is likely to be a hike with the most likely timing in (the first half of 2027)."Treasury yields were trending upwards in premarket action, with the two-year rate advancing 1.9 basis points to 3.82% and the 10-year rate adding 1.8 basis points to 4.35%.Coca-Cola (KO), S&P Global (SPGI), Spotify Technology (SPOT), United Parcel Service (UPS), Sherwin-Williams (SHW), Hilton Worldwide (HLT) and General Motors (GM) are scheduled to release their latest financial results before the bell, among others. Visa (V), T-Mobile US (TMUS) and Starbucks (SBUX) post earnings after the markets close.Shares of Snap (SNAP) nudged down 0.2% pre-bell after the social media company finished the previous session with a 7.3% jump. Cadence Design Systems (CDNS) moved 0.4% lower as the computational software company announced its latest quarterly results. Oracle (ORCL) fell 5.5%.Tuesday's economic calendar has the Case-Shiller Home Price Index and the Federal Housing Finance Agency House Price Index, both for February, at 9 am ET. The consumer confidence report for April is out at 10 am, along with the Richmond Fed manufacturing index for the same month.Gold dropped 1.4% to $4,626 per troy ounce, while bitcoin ticked down 0.2% to $76,604.

Dow JonesNasdaq CompositeS&P 500$CDNS$GM$HLT$KO$ORCL$SBUX$SHW$SNAP$SPGI$SPOT$TMUS$UPS$V

US Markets56d ago

Barclays Affirms 2026 Outlook Amid Higher Profit; New GBP500 Million Buyback Unveiled

Barclays (BARC.L) reiterated its financial targets for 2026 as it delivered a "solid" first-quarter performance despite logging higher impairment charges over the period.The British banking group's profit attributable to shareholders for the three months ended March 31 rose year over year to 1.93 billion pounds sterling from 1.86 billion pounds, according to a Tuesday earnings release. Before tax, profit reached 2.81 billion pounds, up from 2.72 billion pounds.Credit impairment charges widened to 823 million pounds from 643 million pounds, largely driven by a single name charge of 228 million pounds at the company's investment banking division. Bloomberg News reported Tuesday that the charge was linked to Market Financial Solutions, a UK-based specialized lender that collapsed in February."PBT was in line with consensus driven by better than expected revenues in the IB partially offset by a top-up for motor finance commissions (GBP105m), an impairment provision for MFS (GBP228m) and a cost miss in [Barclays UK]. On an underlying pre-provision profit basis, there was a 2% beat," analysts at RBC Capital Markets said in a quicktake note.Barclays also announced plans to launch a new 500 million-pound buyback once its current 1 billion-pound share repurchase program is completed.For full-year 2026, the group reaffirmed its goal to achieve a total income of 31 billion pounds and a return on tangible equity of more than 12%. Looking further ahead, Barclays also confirmed its 2028 targets, including a greater than 14% RoTE and plans to return more than 15 billion pounds of capital to shareholders over the 2026 to 2028 period through dividends and buybacks.As of Tuesday midday, the stock was trading nearly 1% lower in London.

$BARC.L

US Markets56d ago

Cadence Raises 2026 Revenue Outlook Following First-Quarter Beat

Cadence Design Systems (CDNS) lifted its full-year revenue outlook as the computational software company reported better-than-expected first-quarter results.The firm now anticipates revenue to come in between $6.13 billion and $6.23 billion for 2026, it said late Monday, up from its prior forecast of $5.9 billion to $6 billion. The current consensus on FactSet is for $6.17 billion. The stock edged up 0.5% in Tuesday's most recent premarket activity."With robust design activity and solid execution, we are raising our 2026 revenue outlook to 17% year-over-year growth," Chief Financial Officer John Wall said in a statement.Adjusted earnings are pegged to be in a range of $7.85 to $7.95 per share for the current year, down from the company's previous projections of $8.05 to $8.15. The Street is looking for non-GAAP EPS of $7.92.The revised earnings guidance includes the "acquired cost base, the financing impact, the acquisition-related integration costs and kind of near-term dilution," associated with the company's acquisition of Hexagon's design and engineering business, Wall told analysts during an earnings call, according to a FactSet transcript. The deal was completed in February.The company "paid 30% of the acquisition price in shares and 70% in cash," according to Wall. The lost interest income on cash causes a "lot of the dilution impact in the short-term," but the firm anticipates the transaction to be accretive in 2027, the CFO added.For the quarter ended March, the company's adjusted EPS climbed to $1.96 from $1.57 the year before, topping the average analyst estimate of $1.89. Revenue advanced to $1.47 billion from $1.24 billion, ahead of the Street's view for $1.45 billion.Product and maintenance revenue grew to $1.35 billion from about $1.11 billion in the prior-year quarter, while services declined to $125.3 million from $131.5 million."Cadence had a strong start to 2026, delivering a solid (first quarter) with accelerating (artificial intelligence) demand and record backlog, reflecting strong customer commitment to our AI-driven portfolio," Chief Executive Anirudh Devgan said. The company's backlog stood at $8 billion, while remaining performance obligations were $4 billion.For the ongoing three-month period, Cadence expects adjusted EPS of $2.02 to $2.08 on revenue of $1.56 billion to $1.6 billion. The Street is looking for non-GAAP EPS of $1.98 and sales of $1.55 billion for the second quarter.

$CDNS

US Markets56d ago

Denso's Fiscal 2026 Profit, Revenue Rise Amid Geopolitical Risks

Denso (TYO:6902) reported higher profit and revenue for the fiscal year of 2026 despite various external factors, but predicted lower earnings in the following year due to the impact of the ongoing Middle East conflict on Japanese carmakers.The profit attributable to owners rose 5.9% year on year to 443.8 billion yen, while revenue climbed 5.3% from a year earlier to 7.540 trillion yen, due to higher vehicle sales and cost recovery from changes to certain product programs, according to the company's Tuesday press release.Operating profit jumped 6.5% year on year to 552.5 billion yen, beating the company's forecast of 500 billion yen."Although our profitability was affected by various factors - including tariff-related costs, higher parts and material prices, and increased investment in our workforce - our team's ongoing business improvements and higher production volumes enabled us to achieve a higher operating profit than last year," Denso's executive vice president and chief financial officer, Yasushi Matsui, said.The automobile maker decided to pay out an annual dividend of 67 yen for the period.The company has been profitable for the period despite withdrawing its proposal to acquire shares in ROHM (TYO:6963) after failing to secure support from ROHM's board and a special committee.The decision was made after a review of the proposal's corporate value, which concluded that "continuing the proposal at this time would not necessarily contribute to the enhancement of its corporate value".The deal could have been worth up to $8.3 billion, according to a Reuters report.However, external factors, including the Middle East war, could have implications for Japan's automobile sector, especially when it comes to aluminum supply.Denso, being the key supplier of Toyota (TYO:7203), is among the affected, as 70% of Japanese carmakers' aluminum imports come from the Middle East, according to a Bloomberg News report on April 20.Denso forecasted that the attributable profit for the fiscal year of 2027 will drop to 382 billion yen, while revenue will rise to 7.670 trillion yen. Operating profit is also expected to fall to 500 billion yen."Our operating profit forecast decreased from the 2026 fiscal year, reflecting strengthened investments aimed at future growth and potential risks associated with a highly uncertain business environment," Matsui said.

TYO:6902TYO:6963TYO:7203

US Markets56d ago

Japan Unemployment Rate Edges Higher in March

Japan's national unemployment rate rose to 2.7% in March, edging up from 2.6% in February, and perhaps indicating the first negative ripples of higher oil prices and lagging global trade in the wake of the Persian Gulf war.The number of unemployed in Japan increased by a seasonally adjusted 10,000 in March from February, to 1.86 million.The number of employed declined by 120,000 in March from February, to an 11-month low of 68.15 million, while the labor force shrank by 100,000 to a seven-month low of 70.02 million.In recent years, due to an aging population, Japan's potential labor force has been decreasing, as more former workers pass into retirement age but are not replaced by younger labor-force entrants.In general, many businesses describe Japan as experiencing "labor shortages."The nation's labor force participation rate, that is, the percent of working-age adults either employed or seeking employment, edged up to 63.6% in March from 63.5% in February and was slightly higher than the 63.3% registered a year earlier.Separately, in March, there were a seasonally adjusted 118 jobs open for every 100 job hunters, down modestly from 119 in February, reported the Ministry of Health, Labor and Welfare.

Nikkei 225

US Markets57d ago

Novartis Reports First-quarter Sales Dip Amid Growing US Generic Competition

Novartis (NOVN.SW) on Tuesday reported a decline in first-quarter sales as an expected rise in generic penetration in the US outweighed the momentum of priority brands.Shares in the Swiss drugmaker was down 4% by midday trading.For the three months ended March 31, net sales were down 5% at constant currency to $13.11 billion. Volume added 13 percentage points to growth, but this was more than offset by a hit of 14 percentage points due to generic competition.Key therapies that continued to perform include leukemia treatment Scemblix, which surged 79% at constant currency to $433 million, and breast cancer drug Kisqali, which rose 55% to $1.52 billion. Conversely, revenue from heart failure drug Entresto dropped 46% to $1.31 billion.Against this backdrop, Novartis reiterated its 2026 financial targets, projecting low single-digit growth for net sales alongside a low single-digit decline in core operating income. Should late April exchange rates hold steady through year-end, currency tailwinds are projected to add 2 percentage points to net sales and 1 percentage point to core operating income, the company noted."With the momentum we are seeing across the business, we remain on track to deliver our [full-year] guidance and look forward to multiple readouts in the second half that could raise our mid- to long-term growth outlook," Novartis Chief Executive Officer Vas Narasimhan said.Novartis' net income reached $3.16 billion in the first quarter, down from $3.61 billion in the same period a year ago. EPS dropped to $1.65 from $1.83

$NOVN.SW

US Markets57d ago

Bank of Japan Holds Rates, Cuts Growth Outlook, Raises Inflation View

Citing heightened inflation risks but also a slowing economy, in a mixed decision the Bank of Japan kept its key interest rate unchanged, the central bank disclosed Tuesday.The Bank of Japan held its short-term policy rate at 0.75% by a 6-3 vote, leaving the rate unchanged since last December.Bank of Japan Governor Kazuo Ueda said policymakers need more time to assess how the Persian Gulf war and the closure of the Strait of Hormuz will affect prices and the economy.Demonstrating the impact of higher oil prices, the central bank forecast that the nation's consumer price index-core (CPI-core), that strips out fresh food prices, will rise 2.8% in fiscal 2026 (started April 1), up from the 1.9% estimate in January.In addition, the Bank of Japan lowered its forecast for gross domestic product (GDP) growth to 0.5% for the fiscal year, down from 1% in its the previous outlook.Until recent years, the Bank of Japan has struggled not with inflation but near-deflation, and also extended sluggish economic growth, resulting in what some critics termed "lost decades."In recent seasons, central bank officials have reiterated they want to keep demand for labor strong enough that real wages rise, thus allowing more consumption and overall economic expansion.Until today's forecast, the Bank of Japan also issued sanguine inflation forward estimate, that the CPI-core would recede to within the bank's 2% target in fiscal 2026.In fact, in March, Japan logged a modest 1.8% increase in the CPI-core on year, reported the Statistics Bureau.But going forward, with higher oil prices, and the weakest yen vs. the US dollar in 35 years, the Bank of Japan is now forecasting that inflation will rise above the central bank's target.Japan's central bank next meets on April 27-28."We continue to believe there's a chance that the BoJ may hike on 28 April," said ING Think, an rm of the Dutch investment house. "Board members' concerns about higher inflation expectations are likely to increase as real interest rates remain deeply negative."

Nikkei 225

US Markets57d ago

BP Cheers 'Strong' First-quarter Earnings as Iran War Leads to 'Exceptional' Oil Trading

BP (BP.L) clocked upbeat results for the first quarter on Tuesday, thanks to "significantly" higher realized margins and an "exceptional" contribution from oil trading as the ongoing Iran war keeps prices elevated.Profit attributable to shareholders for the three months ended March 31 surged year over year to $3.84 billion from $687 million. Adjusted for certain items, the underlying replacement cost profit reached $3.2 billion, up from $1.38 billion a year ago.Total revenue and other income increased annually to $53.37 billion from $47.88 billion, with the oil and gas giant touting a sequential improvement in upstream plant reliability to 95.7% from 95.4% in the previous quarter. Reported upstream production remained broadly stable as higher production in the Gulf of America and strong performance in bpx Energy offset the impact of disruptions in the Middle East.On the downstream side, BP's refining availability moved up to 96.3% in the first quarter of 2026 from 96% in the previous three months, exceeding the company's target of 96% availability."BP reported strong numbers this morning, with a 20% beat vs. market expectations at the net income level (7% ahead of RBCe)," RBC Capital Markets said. "Looking divisionally, the star of the show was the downstream, with BP reporting higher refining & trading numbers, well in excess of consensus and ~$200m ahead of our estimates for the quarter, supported by exceptional oil trading results."Against this backdrop, the board declared a higher interim dividend per ordinary share of $0.0832, compared with $0.08 in the prior-year period, payable June 26 to shareholders on record May 15. BP anticipates raising its dividend annually by at least 4% per ordinary share.Moving ahead, reported upstream production for the three months ending June 30 was guided lower on a quarterly basis owing to the ongoing conflict in the Middle East and seasonal maintenance, mainly in the Gulf of America. For full year 2026, reported upstream production is also expected to decline from the previous year.The company's stock rose over 2% in early morning trade.

$BP.L

US Markets57d ago

Haier Smart Home's Q1 Profit Slides 15% on Lower US, China Demand

Haier Smart Home's (SHA:600690, HKG:6690) attributable profit dropped 15% in the first quarter amid demand pressures in the U.S. and mainland China, as well as a slide in revenue.The bottom line at the Qingdao, China-based home appliance manufacturer slid to 4.65 billion yuan in the first quarter from 5.49 billion yuan a year prior.Earnings per share fell 15% to 0.50 yuan from 0.59 yuan, according to a Tuesday filing with the Shanghai Stock Exchange.Profitability came under pressure during the first three months of 2026, especially in North America, where operating profit fell 10% due to extreme weather conditions such as blizzards, as well as the impact of tariffs by U.S. President Donald Trump, according to a Monday disclosure to the Hong Kong bourse.The home appliance maker boosted the integration of its large heating, ventilation, and air conditioning (HVAC) operations, it said in its filing.Revenue fell 6.9% year over year to 73.7 billion yuan from 79.1 billion yuan, slightly below market expectations of an 8% to 10% slide, according to a research note by Jefferies released Monday.Back home, the decline is attributable to a 6.2% slide in home appliance retail sales, in line with expectations from Jefferies.Overall overseas revenue slid 3.2% due to pressures in North America.European refrigeration sales inched up 1.3%, while the top line across South and Southeast Asia jumped 17% and 12%, respectively.Operating costs declined to 68.4 billion yuan from 72.5 billion yuan.The company also launched a plan to become a "user-centric platform-based technology ecosystem enterprise," as well as expanding its HVAC business, boosting its domestic model, and building its overseas brand.Jefferies reiterated its hold rating on Haier's Hong Kong and Shanghai shares.For 2026, the investment bank estimates earnings per share to slide 14% year over year with demand in China weakening in March through the second quarter before recovering in the second half.U.S. demand will also continue to face pressure through 2026, the bank said in a separate note in March.

HKG:6690SHA:600690

US Markets57d ago

AMEC's Q1 Profit Surges 197% on Gains from Stake Sale

Advanced Micro-Fabrication Equipment China or AMEC (SHA:688012) saw a nearly threefold increase in profit in the first quarter of 2026, boosted by asset sales and rising demand for advanced etching tools.Attributable profit surged 197% to 930.5 million yuan in the first quarter from 313.1 million yuan in the year-ago period, according to a Shanghai bourse filing on Tuesday.The Chinese chip gear maker's earnings per share nearly tripled to 1.47 yuan from 0.50 yuan in the prior-year period.Revenue jumped 34% year over year to 2.91 billion yuan from 2.17 billion yuan, close to the average annual revenue growth of more than 35% for the past 14 years, AMEC said.Research and development expenses grew 32% or by 221 million yuan, year over year, equivalent to 31% of revenue for the quarter, the chip gear manufacturer said.AMEC also attributed its strong performance to net after-tax gains of 397 million yuan from the sale of part of its stake in TopJade Technology.Shipments of chipmaking equipment for etching of advanced logic and memory devices also grew during the period, AMEC said.The company was able to develop more than 300 etching machines for ultra-high aspect ratio etching processes, while it has also delivered its ultra-high aspect ratio cryogenic etching gear to clients for verification, according to the filing.The surge comes as China's semiconductor trade deficit rose 17% in the first quarter, helping strengthen the desire for more aggressive foundry capacity in the next five years, investment bank Jefferies said in a note April 23.Jefferies maintained a buy rating on AMEC, considering the company its top pick for Chinese wafer fab equipment manufacturers, as it is highly leveraged toward Chinese memory capital expenditure, the investment bank said.

SHA:688012

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US Markets56d ago

Stocks Mostly Down Pre-Bell as Traders Monitor Developments on US-Iran Negotiations; Fed Policy Meeting on Deck

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