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Airline Capacity Deployment Slowdown Amid High Fuel Prices Could Hit Aircraft Lessors, Deutsche Bank Says

Aircraft lessors could be impacted by a projected slowdown in airline capacity deployment globally amid elevated jet fuel prices triggered by the Middle East conflict, Deutsche Bank said Monday.Energy prices have soared following the US-Israel war with Iran that has disrupted shipments through the Strait of Hormuz, the world's most important chokepoint for crude flows.The conflict, which paused following a ceasefire between the US and Iran and later between Israel and Lebanon, has pushed jet fuel prices past $4 a gallon, according to Deutsche Bank."While aircraft lessors are not directly impacted (by high fuel prices) like airlines with higher operating costs, they are indirectly affected by changes in supply and demand for aircraft," Deutsche Bank analyst Shannon Doherty said in a note to clients Monday. "We cannot ignore the fact that surging jet fuel prices will lead to a slowing of global airline capacity deployment, with groundings a possibility among the financially weakest operators."Last week, American Airlines (AAL) and United Airlines (UAL) lowered their full-year earnings projections. United Airlines said at the time it faced headwinds in the first quarter, including a $340 million increase in fuel expense, compared with a year earlier.Qatar Airways recently contacted lessors to potentially defer or reduce rental payments, Deutsche Bank said Monday. If other airlines request similar favors and aircraft lessors opt to provide that relief, new terms will likely be net present value-positive over the longer term for lessors, according to the note.A premium multiple to AerCap Holdings' (AER) book value is "justified" given its diversified asset fleet earning mid-double-digit return on equity, Doherty said. An undersupply of aircraft assets is "structural" and is expected to last through the end of the decade, the brokerage wrote."AerCap represents one of the best ways to play this theme given the high demand for aircraft, its large orderbook, durable earnings, and high visibility into future cash flows given the long duration nature of its lease contracts," Doherty said.Price: $137.95, Change: $-0.14, Percent Change: -0.10%

$AAL$AER$FTAI$UAL

US Markets57d ago

Equities Mixed Intraday, Oil Rises Amid Stalled US-Iran Talks

US benchmark equity indexes were mixed intraday, while oil prices rose as investors wavered after peace talks between Washington and Tehran apparently stalled.The Dow Jones Industrial Average was down 0.1% at 49,161.3 after midday Monday, while the Nasdaq Composite edged up 0.1% to 24,856.1. The S&P 500 gained 0.1% to 7,169.8. Among sectors, consumer staples saw the biggest drop, while communication services paced the gainers.Brent crude was up 3.2% at $108.73 per barrel, while West Texas Intermediate crude rose 2.4% to $96.63.Iran's Foreign Minister Seyed Abbas Araghchi visited Pakistan twice over the weekend, while President Donald Trump called off US officials' previously announced trip to Islamabad.Iran has submitted a new proposal to reopen the Strait of Hormuz that includes delaying nuclear negotiations, Axios reported, citing a US official and two other sources."Brent crude trades at a three-week high as efforts to revive peace talks have stalled, with an Iranian proposal reportedly calling for nuclear negotiations to be postponed to a later stage," Saxo Bank said in a report.The strait, the world's most important chokepoint for crude flows, remains at a near-complete halt, with Iran and the US imposing their respective blockades of maritime traffic, Bloomberg News reported Sunday.Trump was scheduled to meet with top national security officials on Monday to discuss the new Iranian proposal, CNN reported."Oil is trading stronger this morning after attempts to get US-Iran peace talks back on track broke down, erasing hopes for a resumption of energy flows through the Strait of Hormuz anytime soon," ING Bank said in a note on Monday. "The lack of progress means the market is tightening every day, requiring oil prices to reprice at higher levels."US Treasury yields were higher intraday, with the 10-year rate up 3.8 basis points at 4.35% and the two-year rate rising 2.7 basis points to 3.82%.In company news, Verizon Communications (VZ) lifted its full-year earnings outlook on Monday and reported a first-quarter bottom line above market estimates, while the telecommunications giant unexpectedly added postpaid phone subscribers in the three-month period. The company's shares were up 2.6% intraday, the biggest gain on the Dow.Shares of Domino's Pizza (DPZ) were down 9.5%, the steepest decline on the S&P 500. The company reported weaker-than-expected first-quarter results on Monday, with the company's chief executive saying consumer uncertainty and inflation weighed on demand late in the quarter.Organon (OGN) shares surged 17% after the healthcare company agreed to be acquired by Indian pharmaceutical firm Sun Pharmaceutical Industries in an all-cash deal with an enterprise value of about $11.75 billion.Technology giants Alphabet (GOOG, GOOGL), Apple (AAPL), Microsoft (MSFT), Amazon (AMZN) and Meta Platforms (META) are slated to release their latest financial results later this week.Gold was down 1.1% at $4,688.80 per troy ounce, while silver shed 1.6% to $75.20 per ounce.

Dow JonesNasdaq CompositeS&P 500$AAPL$AMZN$DPZ$GOOG$GOOGL$META$MSFT$OGN$VZ

US Markets57d ago

United Airlines CEO Confirms Approach to American Regarding Potential Merger

United Airlines (UAL) Chief Executive Scott Kirby confirmed Monday that he approached fellow carrier American Airlines (AAL) about a possible merger, but the latter declined to engage and closed the door on a deal.A potential combination between the two companies could have expanded service to "smaller communities," increased the total number of economy seats in the marketplace, offered affordable prices to customers and built a more globally competitive US airline, Kirby said in a statement. The merger could have boosted the US economy and created "millions of jobs," among other benefits, Kirby added."I was hoping to pitch that story to American, but they declined to engage and instead responded by publicly closing the door," Kirby said. "Without a willing partner, something this big simply can't get done."American Airlines didn't immediately respond to' request for comment.American Airlines shares were down 2.7% in Monday afternoon trade, while United Airlines fell 1.4%.Earlier this month, American Airlines said it wasn't interested in any talks regarding a merger with United Airlines, adding that it would be "negative for competition and for consumers." Any deal would also have been "inconsistent" with the Trump administration's philosophy towards the industry and antitrust law, the company said at the time.During an earnings conference call with analysts last week, American Airlines CEO Robert Isom said a potential combination with United Airlines would have been "anticompetitive.""Everybody that has weighed in suggests the same thing," Isom told analysts, according to a FactSet transcript. "Bad for customers, bad for the industry, and then ultimately -- that'd be bad for American Airlines."American Airlines' public comments "make it clear that a merger like this is off the table for the foreseeable future," Kirby said Monday.US President Donald Trump reportedly voiced his opposition to the combination in a recent interview with CNBC, saying he didn't "like" having the two airlines merge.Last week, American Airlines reported that its first-quarter adjusted per-share loss narrowed year over year, while operating revenue increased. The carrier cut its 2026 earnings outlook at the time. Separately, United Airlines reported better-than-expected first-quarter results, but lowered its full-year earnings outlook amid rising fuel costs.Price: $91.69, Change: $-1.31, Percent Change: -1.41%

$AAL$UAL

US Markets57d ago

Microsoft, OpenAI Amend Partnership; Wedbush Says Move Net Positive for Tech Giant

Microsoft (MSFT) and OpenAI have amended their partnership under which the technology giant will no longer pay a revenue share to the ChatGPT maker, among other things, with Wedbush Securities calling the development a net positive for Microsoft.Under the amended partnership, revenue share payments from OpenAI to Microsoft will continue through 2030, independent of the artificial intelligence firm's "technology progress, at the same percentage, but subject to a total cap," the companies said Monday. Microsoft will continue to have a license to OpenAI intellectual property for models and products through 2032, while its license will now be nonexclusive, according to a joint statement."We view this as a net positive for Microsoft, as the company locks in a six-year IP control over OpenAI technology and maintains a significant share of OpenAI while ending the back-and-forth between Redmond and OpenAI and setting the stage for Microsoft to get all revenue generation on its core platform," Wedbush analysts, including Dan Ives, said in a note to clients.Microsoft will remain the primary cloud partner of OpenAI. The AI firm's products will ship first on Microsoft Azure, unless the tech giant "cannot and chooses not to support the necessary capabilities," the companies said. OpenAI will now be able to serve all its products to customers "across any cloud provider," they added."The greater predictability in the amended agreement strengthens our joint ability to build and operate AI platforms at scale while providing both companies the flexibility to pursue new opportunities," Microsoft and OpenAI said.The amended partnership puts OpenAI on "a strong path forward to going public" via an initial public offering given its "clearer opportunity in the cloud environment while reducing significant barriers" from its original Microsoft partnership, the Wedbush analysts said."In essence, the training wheels are off for (Microsoft) with OpenAI and now it's about a step-up in AI monetization on its core platform looking forward," the analysts wrote.Microsoft is scheduled to report its fiscal third-quarter financial results Wednesday.Price: $424.15, Change: $-0.45, Percent Change: -0.11%

$MSFT

US Markets57d ago

Oil Prices Rise Amid US-Iran Stalemate

Crude oil prices rose Monday as US-Iran talks appeared to have stalled, even as Tehran reportedly offered a new proposal for reopening the Strait of Hormuz.West Texas Intermediate crude futures were last up 2.4% at $96.64 per barrel. Brent advanced 3.2% to $108.73.Iran's Foreign Minister Seyed Abbas Araghchi visited Pakistan twice over the weekend, while President Donald Trump called off US officials' previously announced trip to Islamabad.Iran has 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.Uranium enrichment and Iran's control of the crucial waterway have been key sticking points during talks between between Washington and Tehran.A Pakistan-brokered ceasefire between the US and Iran paused American and Israeli strikes on Tehran, but there's no framework yet for a long-lasting peace deal."Oil is trading stronger this morning after attempts to get US-Iran peace talks back on track broke down, erasing hopes for a resumption of energy flows through the Strait of Hormuz anytime soon," ING Bank Head of Commodities Strategy said in a note on Monday. "The lack of progress means the market is tightening every day, requiring oil prices to reprice at higher levels."

US Markets57d ago

Restaurant Trends Likely Slowed to Exit First Quarter, UBS Says

Strong underlying trends across the US restaurant sector likely slowed toward the end of the first quarter, with an uncertain and a weak consumer environment expected to drive conservative guidance, UBS Securities said in a note on Monday."We expect (first-quarter) results to highlight generally solid underlying trends across much of the sector, but anticipate slower trends to exit the quarter and into (the second quarter so far)," UBS analyst Dennis Geiger said in the note.Management commentary will be a key focus given the impact of holiday calendar shifts, tax rebates and elevated gas prices, Geiger said. Energy prices have spiked because of the US-Israel war with Iran that has disrupted shipments through the Strait of Hormuz, a critical shipping route."We anticipate still generally conservative (2026) guidance given above (average) uncertainty in the industry backdrop," Geiger wrote.US consumer sentiment 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, final University of Michigan survey results showed Friday."Sentiment is unlikely to improve unless supply constraints are lifted or energy costs decline," according to the UBS note.Retail sales at restaurants and bars almost stalled sequentially in March, government data showed last week.Results across restaurants should largely be positive, especially when excluding the impacts of weather conditions, but "performance bifurcation among brands should remain reasonably wide again" during this reporting cycle, Geiger wrote.Starbucks' (SBUX) investors expect the company to lift its US same store sales target for this year following a second-quarter beat, according to UBS. Wingstop (WING) is seen lowering its comparable sales outlook after reporting a bigger-than-expected decline in the first quarter.The outlook for Cheesecake Factory (CAKE) and Chipotle Mexican Grill (CMG) will likely be maintained.Price: $98.64, Change: $-0.03, Percent Change: -0.03%

$CAKE$CMG$SBUX$WING

US Markets57d ago

Domino's Pizza First-Quarter Results Miss Estimates as CEO Flags Weak Consumer Sentiment

Domino's Pizza (DPZ) reported weaker-than-expected first-quarter results on Monday, with the company's CEO saying consumer uncertainty and inflation weighed on demand late in the quarter.Per-share earnings in the three months ended March 22 fell to $4.13 per share from $4.33 a year earlier, below the FactSet consensus of $4.28. Revenue rose 3.5% to $1.15 billion, while analysts expected $1.16 billion.Revenue at US company-owned stores dropped to $82.1 million from $91.6 million. Global retail sales growth decelerated to 3.4% from 4.7%, while same-store sales at international stores contracted by 0.4%."(It) represented another quarter of positive order count and market share growth for Domino's in the US," CEO Russell Weiner said during an earnings call, according to a FactSet transcript. "While I was pleased with our start to the year, performance for the rest of the quarter did not meet our expectations, resulting in same-store sales (growth) of 0.9%."The company's shares fell 8.9% in Monday trading and have dropped 20% this year."Pressure intensified throughout the quarter, in particular in March because of growing consumer uncertainty," Weiner said. "Consumer sentiment hit COVID level lows and ongoing inflation continued to impact purchase decisions. Weather also affected our business in the quarter."US consumer sentiment has slumped, reflecting heightened worries about higher prices and the economic fallout from the Middle East conflict that had intensified in recent weeks before the US and Iran agreed to temporarily halt hostilities.US consumer inflation accelerated in March as the Middle East conflict sent energy prices sharply higher."As a result of the challenging start to the year and increase macro pressure, we now expect our US comp to be up low single-digits in 2026," Chief Financial Officer Sandeep Reddy said on the call. He previously guided US comparable sales for 2026 to grow by 3%."We now expect our international same-store sales growth to be low single-digits, primarily as a result of the macro and geopolitical uncertainty across the world," Reddy said. "Due to our lowered sales expectations, we now expect operating income growth of mid-to-high single-digits, excluding the impact of foreign currency, refranchising gains and the gain on the sale of our corporate aircraft."The company's board approved an additional share buyback program of up to $1 billion, bringing its authorized repurchases to $1.29 billion.Price: $335.53, Change: $-32.66, Percent Change: -8.87%

$DPZ

US Markets57d ago

Shell to Acquire ARC Resources in US$16.4 Billion Cash-Stock Deal

Shell (SHEL) agreed to acquire Canadian energy company ARC Resources in a cash-and-stock deal with an enterprise value of US$16.4 billion, as the oil and gas giant looks to increase its exposure to low-cost shale gas and liquids production in Canada's Montney basin.Shareholders of ARC will receive 8.20 Canadian dollars (US$6.03) in cash and 0.40247 shares of Shell for each share owned, representing a total consideration of CA$32.80 apiece, the companies said in separate statements.The deal has an equity value of US$13.6 billion, said Shell, which will take on US$2.8 billion in net debt and leases, bringing enterprise valuation to US$16.4 billion.Shell's US-listed stock edged down 1.1% in Monday trade."ARC is a high-quality, low-cost and top quartile low carbon intensity producer operating in the Montney shale basin that complements our existing footprint in Canada and strengthens our resource base," Shell Chief Executive Wael Sawan said in a statement. "This establishes Canada as a heartland for Shell while furthering our strategy to deliver more value with less emissions."The transaction, which requires approval from regulators and courts, as well as clearance from ARC's shareholders, is expected to complete in the second half.Shell projects the deal to enhance its existing liquid natural gas footprint and downstream businesses in Canada. The acquisition is expected to generate annualized synergies of around US$250 million within a year of completion, according to Shell.It expects the transaction to increase its production compound annual growth rate to 4% through 2030. The deal adds roughly 2 billion barrels of oil equivalent proved plus probable reserves at the end of 2025. ARC produced 374,000 barrels of oil equivalent per day in 2025.Through this deal, ARC will become "part of a dynamic global energy leader capable of realizing the full potential of our business and delivering on Canada's exciting energy future," CEO Terry Anderson said in a separate statement.ARC said it will be liable to pay a fee of about CA$600 million if it terminates the deal.Price: $88.12, Change: $-0.99, Percent Change: -1.11%

$SHEL

US Markets57d ago

Verizon Raises 2026 Earnings Outlook Following Unexpected Postpaid Subscriber Additions

Verizon Communications (VZ) lifted its full-year earnings outlook on Monday and reported a first-quarter bottom line above market estimates, while the telecommunications giant unexpectedly added postpaid phone subscribers in the three-month period.The company now anticipates adjusted earnings to come in between $4.95 and $4.99 per share for 2026, up from its previous projections of $4.90 to $4.95, representing annual growth of 5% to 6%. The current consensus on FactSet is for non-GAAP EPS of $4.90. The stock was up 3.9% in the most recent premarket activity.Last week, rival AT&T (T) maintained its full-year earnings outlook and reported better-than-expected first-quarter results.For the three-month period ended March, Verizon's adjusted EPS rose to $1.28 from $1.19 the year before, topping the Street's view for $1.21. Operating revenue inclined 2.9% to $34.44 billion, but fell short of the average analyst estimate of $34.82 billion.The company added 55,000 retail postpaid phone subscribers in the quarter, compared with losses of 289,000 in the prior-year period. The average consensus among eight analysts on FactSet was for a loss of 88,100 subscribers."Our first-quarter 2026 results show that our turnaround is not only progressing, it is gaining momentum," Chief Executive Dan Schulman said in a statement. "This disciplined approach is already delivering healthier economics, lower churn, and the first positive first-quarter postpaid phone net adds we've seen in over a decade."Mobility and broadband service revenue inclined 1.6% to around $22.9 billion, including an 80-basis-point headwind to wireless service revenue growth due to an outage in January, according to the company. Service and other revenue edged up to $28.76 billion from $28.09 billion in the 2025 quarter. Broadband net additions totaled 341,000, down from 353,000 last year, according to a presentation.For 2026, retail postpaid phone net subscriber additions are now pegged to be at the top half of Verizon's previously issued guidance range of 750,000 to 1 million.The company continues to expect wireless service revenue gains to be roughly flat this year as it transitions to sustainable volume-based growth. It also reiterated its forecast of mobility and broadband service revenue growth of 2% to 3%.

$VZ

US Markets57d ago

Stocks Mostly Down Pre-Bell as Iran Reportedly Offers New Proposal to Open Strait of Hormuz

The benchmark US stock measures were mostly tracking in the red before the opening bell Monday as traders assess media speculation about Iran's new proposal to open the Strait of Hormuz.The S&P 500 and the Dow Jones Industrial Average declined 0.1% each in premarket activity, while the Nasdaq was up 0.1%. The Nasdaq and S&P 500 finished Friday's trading session with new closing highs, while the Dow was down.Iran has sent a new proposal to the US to reopen the crucial Strait of Hormuz, the world's most important chokepoint for crude flows, Axios reported, citing a US official and two sources with knowledge of the matter. The proposal reportedly includes postponing nuclear negotiations to a later stage.Shipment traffic through the Strait of Hormuz remains at a near-complete halt with Iran and the US imposing their respective blockades of maritime traffic, Bloomberg News reported Sunday.West Texas Intermediate crude oil rose 2.1% to $96.38 a barrel before the open, while Brent gained 2.3% to $107.77.President Donald Trump cancelled plans to send his representatives to Pakistan for negotiations with Iran, saying too much time has been "wasted on traveling.""We have all the cards, they have none!" Trump said in a social media post on Saturday. "If they want to talk, all they have to do is call!!!"Iranian Foreign Minister Seyed Abbas Araghchi travelled to Islamabad over the weekend to convey Tehran's "observations" to Pakistan's high-level officials, foreign ministry spokesman Esmaeil Baqaei said in a post on X. There was no meeting planned with the US, according to Baqaei.Trump last week extended a ceasefire with Iran, but maintained the naval blockade of Iranian ports.The personal income and outlays report for March is scheduled to be released on Thursday. The report includes the personal consumption expenditure core price index, the Federal Reserve's preferred inflation metric.US consumer sentiment 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, final University of Michigan survey results showed Friday.Monday's thin economic calendar has the Dallas Fed manufacturing survey for April at 10:30 am ET.Technology giants Alphabet (GOOG, GOOGL), Apple (AAPL), Microsoft (MSFT), Amazon (AMZN) and Meta Platforms (META) are slated to release their latest financial results later this week.Verizon Communications (VZ) and Domino's Pizza (DPZ) report their earnings before the bell, while Cadence Design Systems (CDNS) announces its financial statement after the markets close.Organon (OGN) shares climbed 16% pre-bell after the healthcare firm agreed to be acquired by India's Sun Pharmaceutical Industries in an all-cash deal worth about $11.75 billion. Qualcomm (QCOM) added 13% after finishing the previous trading session up 11%, while Nvidia (NVDA) increased 1%.Treasury yields were trending upwards in premarket action, with the two-year rate inclining 1.3 basis points to 3.79% and the 10-year rate moving 0.6 basis points higher to 4.32%.Gold slipped 0.5% to $4,718 per troy ounce, while bitcoin decreased 0.6% to $77,804.

Dow JonesNasdaq CompositeS&P 500$AAPL$AMZN$CDNS$DPZ$GOOG$GOOGL$META$MSFT$NVDA$OGN$QCOM$VZ

US Markets57d ago

Organon Agrees to Be Acquired by Sun Pharmaceutical in $11.75 Billion Deal

Organon (OGN) shares spiked early Monday after the healthcare company agreed to be acquired by Indian pharmaceutical firm Sun Pharmaceutical Industries in an all-cash deal with an enterprise value of about $11.75 billion.Shareholders of Organon will receive $14 a share in cash under the terms of the transaction, the companies said in a joint statement on Sunday. Organon's stock jumped 15% in the most recent premarket activity."Following a comprehensive review of strategic alternatives, our board determined that this all-cash transaction offers compelling and immediate value to Organon stockholders," Organon Chief Executive Carrie Cox said in the statement. "We believe Sun Pharma is well positioned to support Organon's businesses, employees and patients globally."Organon, which focuses on women's health, was formed in 2021 following its separation from pharmaceutical giant Merck (MRK).The deal, which requires approval from regulators and clearance from Organon's shareholders, is expected to complete early next year."This transaction is a logical next step in strengthening Sun Pharma's global business," according to Sun Pharma Managing Director Kirti Ganorkar. "In addition, there is a scope for synergies including significant revenue upside opportunities to be realized over the coming years."Sun Pharma intends to fund the acquisition through a combination of available cash resources and committed financing from banks. The Indian company anticipates the transaction to allow it to enter the biosimilar market.For the year ended Dec. 31, Organon reported revenue of $6.22 billion and adjusted earnings before interest, taxes, depreciation and amortization of $1.91 billion. In February, the company said it expected revenue of $6.2 billion for the current year, while five analysts polled by FactSet estimate $6.15 billion.

$OGN

US Markets57d ago

Forvia Targets Lower Debt with EUR1.8 Billion Sale of Interiors Unit

Forvia (FRVIA.PA) will offload its interiors business group to Apollo-managed funds in a 1.82 billion-euro deal that will allow the French group to pare down debt and zoom in on technology-driven operations.The unit delivered 18% of the automotive technology supplier's consolidated revenue in 2025, through 59 production sites and eight research and development centers across 19 countries, according to a Monday release. Forvia said the new owner intends to support the interiors business' development and transformation.Forvia said the sale is a step towards the implementation of its Ignite strategy, presented at a capital markets day Feb. 24. All net proceeds of the transaction will be used to reduce the company's net debt by at least 1 billion euros, in line with management's plan to restore the group's financial structure."With regards to the Interior disposal, the expected debt reductions announced at the CMD have been confirmed and the cash-in is expected for 2026," Deutsche Bank Research said. "Improved visibility on the transaction is a positive, in our view. Overall, we do not expect consensus expectations to move much on the back of the release."The deal is slated to close by the end of 2026, subject to customary regulatory clearances and consultation of the employee representative bodies. Forvia engaged Evercore as its lead financial adviser alongside Crédit Agricole CIB as financial adviser, while Baker McKenzie served as legal counsel.Shares in Forvia dropped nearly 2% in midmorning trade.

$FRVIA.PA

US Markets57d ago

GfK: German Consumer Confidence Hits Three-year Low as Iran War Fans Inflation Worries

Consumer confidence in Germany hit a three-year low, weighed down by falling income and economic expectations as higher energy prices due to the Iran war continue to fuel inflation worries.The consumer climate indicator for May declined to -33.3 points from a revised -28.1 points in April, market research company Growth from Knowledge said in its latest consumer climate survey published Monday. The reading marks the indicator's lowest level since February 2023.The consensus estimate for May was -30.2 points, based on Investing.com data.In April, the indicator for income expectations plunged 18.1 points to -24.4 points, while economic expectations for the next 12 months fell 6.8 points to -13.7 points as consumers become increasingly concerned that a prolonged war poses a "serious" setback to Germany's economic growth."Income expectations are literally collapsing because of rising inflation. And in this context, people also currently believe that the timing for major purchases is less favorable," said Rolf Bürkl, head of consumer climate at the Nuremberg Institute for Market Decisions.Consumers' willingness to buy is also becoming more pessimistic, with the indicator hitting a two-year low of -14.4 points, down from the previous month's -10.9 points. Meanwhile, their willingness to save remains at a "high level" of 16.1 points, despite slightly decreasing by 2.4 points."The inflation rate in Germany rose from 1.9 percent to 2.7 percent in March due to rising energy prices caused by the war in Iran, leading the majority of consumers to once again expect price increases," GfK noted. "Although the indicator for price expectations rose somewhat less sharply in April than in March-likely due to falling prices at the filling stations, the indicator's level has risen compared to the beginning of the year."

^SXXP

US Markets57d ago

Singapore Industrial Output Expands in March

Boosted by output of electronic goods, Singapore's industrial output posted solid gains in March, reported the Economic Development Board (EDB) on Monday.However, Singapore's chemical output declined in March, due to oil shortages.The city-state's total manufacturing output rose 10.1% on year in March, and excluding the volatile biomedical category, rose by 13.5% on year, reported the EDB.On a seasonally adjusted basis, Singapore's manufacturing output increased 4.7% in March from February."All (manufacturing) clusters recorded output growth on a year-on-year basis in March 2026, except biomedical manufacturing and chemicals," said the EDB.Singapore's output of electronic goods grew by 30% on year in March, on the strength of demand for consumer electronics and semiconductors, said the agency.The production of precision engineering goods rose 14% on year in March, while general manufacturing production rose by grew 7.6%, according to the EDB.In contrast, biomedical goods output declined 14.3% on year in March due to "softer demand for medical devices and a different production mix of active pharmaceutical ingredients," said officials.Chemical production declined 16.0%, "due to disruptions in feedstock supply," noted the EDB, a reference to the closure of the Strait of Hormuz.Until recently, more than two-thirds of imported Singapore crude arrived from the Persian Gulf, reported the Observatory of Economic Complexity.

^STI

US Markets57d ago

Kweichow Moutai's Q1 Profit Edges Up as Revenue Grows 6.5%

Kweichow Moutai's (SHA:600519) attributable profit edged up 1.5% to 27.2 billion yuan in the first quarter from 26.8 billion yuan in the year-ago period, according to a Saturday filing with the Shanghai Stock Exchange.Earnings per share at the Baijiu wine manufacturer increased to 21.76 yuan from 21.38 yuan in the prior-year period.Operating revenue grew 6.5% year over year to 53.9 billion yuan from 50.6 billion yuan, in line with forecasts from Huachuang Securities.Of the figure, its Moutai-branded liquor reached 46 billion yuan, up 5.6% year over year, while its other series brands saw sales of 7.88 billion yuan, up 12% during the period.Direct selling revenue grew 27% to 29.5 billion yuan, while wholesale agent sales slid 11% year over year to 24.4 billion yuan.Its Moutai 1935 and Wangzi products gained market share due to a boost in promotions and sales, Huachuang said in its note.For its part, Jefferies forecasts the company will grow its market share in the premium baijiu segment due to online and offline integration and distributor incentives.Total operating costs rose to 17.2 billion yuan from 14.4 billion yuan in the prior-year period.Tax expenses jumped to 8.23 billion yuan from 7.16 billion yuan, the filing said.The gross margin slid 2.2 percentage points year over year due to lower prices on high-value-added products at the start of the year as well as a decline in shipments, Huachuang said in its note.Meanwhile, Kweichou Moutai's results indicate stabilizing demand for luxury goods in China, Jefferies said in a note Monday.A rebound in retail sales over the past four to six months could indicate a return to positive sales, the investment bank said in its note.For 2026, Jefferies forecasts earnings per share to slide 7% year over year to 72.56 yuan, while revenue could fall 6% year over year to 186.2 billion yuan.

SHA:600519

US Markets57d ago

China Reported Industrial Profits Show Strength in March

Despite trade tariffs and rising oil prices, China's large industrial enterprises, especially the tech-oriented sectors, earned strong profits in March, reported the National Bureau of Statistics (NBS) on Monday.In the month of March, industrial profits in China rose 15.8% on year, largely on the back of private-sector enterprises, said the NBS. The agency's survey is limited to outfits with more than $2.9 million a year in revenue.For the full first quarter, the profits of large-scale industrial enterprises nationwide increased by 15.5% on year.In the first quarter, profits at state-owned industrial companies rose 10.1% on year, while black ink at private manufacturers rose 25.4% on year.In another category, the joint-stock, or publicly traded, industrial enterprises, profits rose 20.9% on year in the first quarter.By industry, the mining sector achieved an on-year profit hike of 16.2% in the first quarter, and the manufacturing industry a gain 19.1%.From January through March, earnings at computer, communication, and other electronic-equipment manufacturers jumped by 120% on year, reported the NBS.In the chemical sector, the bottom line swelled by 54.5%, the coal mining and washing industry grew by 6.7%, while the petroleum, coal, and other fuel processing industry "turned from loss to stable", reported Beijing officials.Despite a strong industrial profit result in the first quarter, the NBS warned that uncertainties in the external environment remain elevated and that imbalances between supply and demand, that is, over-capacity, still need to be addressed, reported the state-run China.org.cn.

Hang SengShanghai Composite

US Markets57d ago

CMOC's Profit Almost Doubles in Q1 Amid Potential Ample Supply

CMOC Group's (SHA:603993, HKG:3993) attributable profit almost doubled in the first quarter as it implied ample copper and sulfur supply amid the Middle East conflict.The copper and cobalt producer's profit attributable to shareholders jumped 97% to 7.76 billion yuan from 3.95 billion yuan a year earlier, according to the company's earnings report published on the Hong Kong Stock Exchange on April 24.Earnings per share doubled to 0.36 yuan from 0.18 yuan.Operating revenue climbed 44% to 66.4 billion yuan from 46 billion yuan in the previous year.In a Sunday note, Jeffries recommended that CMOC is a good buy for investors as its first-quarter earnings were "decent," with most of the figures in line with expectations.The company's output of 187,880 tons of copper during the quarter was also in line with Jeffries' estimate.CMOC earned 15.8 billion yuan from the sale of sold 182,177 tons of copper during the period, with the revenue increasing 27% from the same period a year earlier, the company disclosure showed.Jefferies also predict that the company will have sufficient sulfur supply until the third quarter amid the Middle East war affecting global sulfur supply. Besides, CMOC implicated it has copper sufficiency after its TFM mine in the Democratic Republic of Congo received a Class A registration certification from the London Metal Exchange."Stringent cost control remains on the agenda for copper to reduce the potential impact from higher sulfur cost," Jeffries said. "Higher profit contribution from minor metals, e.g. tungsten, also helps to support the bottom line."China has been getting the upper hand when it comes to copper exports as markets began to shift sources for raw materials after the war in Iran started. In an April 9 report, Reuters said copper exports in the first two months of the year soared to 172,000 ⁠tons from the year-ago 49,000 tons.However, copper imports slumped 25% to 454,000 tons during the January-February period, the media outlet said.

HKG:3993SHA:603993

US Markets60d ago

Nasdaq, S&P 500 Reach New Peaks Amid Tech Rally, Log Weekly Gains

The Nasdaq Composite and the S&P 500 hit all-time peaks as technology stocks rallied on Friday, while traders turned hopeful for a new round of US-Iran peace talks.The Nasdaq rose 1.6% to 24,836.6, while the S&P 500 climbed 0.8% to 7,165.1, both notching new closing highs. The Dow Jones Industrial Average fell 0.2% to 49,230.7. Technology paced the gainers with a 2.5% jump, while health care saw the biggest drop.This week, the Nasdaq advanced by 1.5%, while the S&P 500 added 0.5% -- marking their fourth consecutive weekly advance. The Dow posted a weekly loss of 0.4%."Equity markets were mixed this week with volatility settling down, and equity investors seemingly putting the conflict in Iran behind them despite ongoing uncertainties," Robert Kavcic, senior economist at BMO Capital Markets, said in a report."Despite the trade war and Iran conflict, the market keeps finding a footing thanks to the large-scale (artificial intelligence) buildout, strong productivity growth and robust earnings," Kavcic said.Intel shares soared nearly 24%, the best performer on the S&P 500. Late Thursday, the chipmaker delivered a first-quarter beat amid artificial intelligence-driven demand for its products. The company issued an upbeat outlook for the ongoing quarter.Intel's post-earnings commentary suggests revenue upside potential for 2026, UBS Securities said in a note.Several other major tech stocks also advanced. Nvidia (NVDA) shares jumped 4.3%, the top gainer on the Dow, followed by Amazon.com's (AMZN) 3.5% increase. Advanced Micro Devices (AMD) and Qualcomm (QCOM) were up by double-digit percentage each, both among the best S&P 500 performers.Charter Communications (CHTR) reported first-quarter earnings below Wall Street's estimates as revenue declined annually, driven by weakness in the residential video and Internet segments. The company's shares plunged nearly 26%, the steepest decline on the S&P 500.West Texas Intermediate crude was last down 0.5% at $95.33 per barrel, while Brent rose 1.3% to $106.44.US special envoy Steve Witkoff and Jared Kushner will travel for Pakistan Saturday for a fresh round of talks with Iran, White House Press Secretary Karoline Leavitt said on Friday.Iran's Foreign Minister Seyed Abbas Araghchi has arrived in Pakistan.US Treasury yields were lower, with the 10-year rate down two basis points at 4.31% and the two-year rate falling 6.3 basis points to 3.78%.In economic news, US consumer sentiment 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, final University of Michigan survey results showed."The Iran conflict appears to influence consumer views primarily through shocks to gasoline and potentially other prices," Surveys of Consumers Director Joanne Hsu said. "In contrast, military and diplomatic developments that do not lift supply constraints or lower energy prices are unlikely to buoy consumers."About three in every five US consumers plan to cut discretionary spending as a result of high gasoline prices, with a majority considering a pullback in outlays on travel and entertainment, according to an Oppenheimer survey.Gold was last down 0.1% at $4,721.70 per troy ounce, while silver gained 0.5% to $75.85 per ounce.

Dow JonesNasdaq CompositeS&P 500$AMD$AMZN$CHTR$INTC$NVDA$QCOM

US Markets60d ago

Comcast Has Limited Upside Potential Amid Broadband Competition, Deutsche Bank Says

Comcast's (CMCSA) share price has limited upside potential from here on out amid a challenging competitive environment for broadband, Deutsche Bank said in a note emailed Friday.The brokerage downgraded its rating on Comcast's stock to hold from buy and reduced the 12-month price target to $34 from $35.The media and connectivity giant's share price plunged 13% to $27.56 on Friday, a day after stronger-than-expected first-quarter results drove a a 7.7% rise. The stock logged a 6.1% gain in the week starting April 12.Deutsche Bank sees "limited upside" to reach the $34 price target, given recent stock price appreciation, Analyst Bryan Kraft said. The strong first-quarter performance is unlikely to be "fully repeatable over the next few quarters," Kraft said.The brokerage said that broadband competition is intensifying as telecommunication providers AT&T (T) and Verizon (VZ) expand their fiber networks, while low Earth orbit satellite constellations seek to gain market share.Additionally, mobile network operators are purchasing more spectrum to increase capacity and grow their fixed wireless subscriber bases, Kraft wrote.Comcast's first-quarter results were driven by a $2.2 billion boost from the Milan Cortina Olympics and Super Bowl LX. The company's first-quarter revenue increased 5.3% annually to $31.46 billion."We believe valuation is now at a fair level given what we see as a muted growth outlook over the next few years in both consolidated (earnings before interest, taxes, depreciation, and amortization) and (free cash flow)," Kraft added.

$CMCSA

US Markets60d ago

Consumers Eye Discretionary Spending Cut Amid High Gasoline Prices, Oppenheimer Survey Shows

About three in every five US consumers plan to cut discretionary spending as a result of high gasoline prices, with a majority considering a pullback in outlays on travel and entertainment, according to an Oppenheimer survey.The brokerage said of the 1,000 household decision makers polled, it focused on 880 respondents who drive either a hybrid or gas car.The survey sought to gauge potential impacts of elevated gas prices on consumer behavior and determine their possible actions if fuel costs remain elevated.Gasoline prices in the US are tracking above $4 per gallon, compared with a recent low of $2.80, Oppenheimer analysts Brian Nagel and Andrew Chasanoff said in a Friday note. The surge follows higher crude oil prices amid supply disruptions and production shut-ins caused by the Middle East conflict."Nearly 60% of participants in our survey indicate plans to actively pull back on discretionary spending as a result of elevated gas prices, of which 74% plan to reduce monthly discretionary spending by upwards of $400," Nagel and Chasanoff wrote.The survey showed 62% of the people planning to curtail spending are leaning toward focusing first on travel and entertainment such as sporting events and concerts, Oppenheimer said.The survey showed that apparel and home-related spending could be additional areas of saving for consumers.US consumer sentiment 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, final University of Michigan survey results showed Friday."As gas prices remain elevated, at least nearer-term, we tend to foresee more losers than winners, and few 'safehavens'," Nagel and Chasanoff said. "Those most at risk include athleisure, consumer electronics, and mid-tier-focused home-related chains."

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US Markets60d ago

Nasdaq, S&P 500 Reach New Peaks Amid Tech Rally, Log Weekly Gains

Dow JonesNasdaq CompositeS&P 500$AMD$AMZN$CHTR$INTC$NVDA$QCOM