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UK Caterer Compass Group Boosts Fiscal 2026 Outlook After Strong First Half

Compass Group (CPG.L) raised its guidance for 2026 as it delivered higher profits and revenue for the first six months of the fiscal year, supported by a double-digit-percentage rise in new business wins.The British food services provider now expects an increase in underlying profit of between 10% and more than 11% at constant currency, compared with its previous forecast of 10%, according to a Monday earnings release. Meanwhile, organic revenue growth is still anticipated to come in at 7%.For the fiscal first half ended March 31, the group reported $24.98 billion in statutory revenue, compared with $22.57 billion a year before. Organically, this was up 7.2% on the back of new business growth and robust client retention. New business wins amounted to $4.1 billion, up 14% on an annual basis.Underlying operating profit rose to $1.84 billion from $1.65 billion over the period. On a statutory basis, operating profit rose to $1.61 billion from $1.48 billion, and attributable profit grew to $1.07 billion from $919 million.In terms of shareholder returns, the board approved an interim dividend of $0.255 per share, higher than the year-ago $0.226 per share.Analysts at RBC Capital Markets described Compass' first-half performance as "solid," with a positive sentiment on the group."Net new business wins of +3.8% for H1 a touch below the typical 4-5% range (with Q2 implied rate muddied by Q1 rounding), but promise of H2 acceleration should be taken reassuringly. Guidance for FY underlying EBITA growth ticked up by at least 1 pp which appears to be driven by organic operating leverage. Cash flow lumpy - reported FCF only +3%, with capex/sales +40bps YoY, though this would be consistent with an expectation of better NN for H2 and (likely) into FY27," RBC said in a quick take note. "Stock has materially underperformed ARMK YTD which has looked anomalous to us - we think the H1 print should reassure."The group's shares were trading 1% higher in London as of Monday midday.

$CPG.L

US Markets89d ago

Yamaha FY26 EPS Gains on Steady Revenue; Upside Forecast for FY27

Yamaha (TYO:7951), the world's largest musical instrument-maker, posted a rise in earnings per share (EPS) in fiscal 2026 on stable revenue, and forecast sales and profits would rise through fiscal 2027, on Monday.Yamaha reported revenue of 465.3 billion yen in the year ended March 31, up 0.7% from fiscal 2025.Piano sales to mainland China were sluggish, and high demand for professional audio equipment "normalized," or declined, in fiscal 2026, reported Yamaha.But those softer revenues were offset by increased guitar sales, particularly in North America, as well as higher global shipments of digital musical instruments, added Yamaha.Yamaha reported fiscal 2026 EPS of 52.7 yen, up 90.9% on year. Net profit rose to 23.7 billion yen, a lift of 76.9% on year.However, Yamaha also reported that core operating profit in fiscal 2026 declined to 31.9 billion yen, a fall off of 13.2% on year.The drop in core operating profit in the year was "mainly due to the impact of additional US tariffs, rising procurement costs, and changes in the product mix," said Yamaha.Roughly two-thirds of Yamaha's revenue, and also of profits, are derived from sales of musical instruments, and one-third from sales of audio equipment.For fiscal 2026, Yamaha reported that musical instrument sales generated revenue of 304.9 billion yen, up 3.0% on year, but core operating profit for the segment declined modestly to 21.2 billion, off 3.9% on year.The company's sales of audio equipment slipped in fiscal 2026 to 142.4 billion, off 3.6%, while core operating profit slumped to 10.8 billion, off 25%.For fiscal 2027, Yamaha forecast revenue will strike 490.0 billion yen, up 5.3% on year, while core operating black ink will reach 38 billion yen, up 19.1%.The company expects fiscal 2027 EPS to log at 63.7 yen, up 20.9% on year.Yamaha shares closed up 2.8% in Tokyo trading.

TYO:7951

US Markets89d ago

GSK Teams Up with Sino Biopharmaceutical for Distribution of Potential Hepatitis B Drug in China

GSK (GSK.L) agreed to an exclusive strategic collaboration with Hong Kong-listed Sino Biopharmaceutical that will see the British pharmaceutical giant's potential treatment for chronic hepatitis B get scaled access to over 5,000 medical centers in mainland China at launch.Bepirovirsen was accepted for priority regulatory review in China in April on the back of positive results from the B-Well 1 and B-Well 2 phase 3 trials, according to a Monday release. The trials showcased statistically significant and clinically meaningful functional cure rates for hepatitis B, which can cause both acute and chronic liver disease.Under the initial 5.5-year deal, Sino Biopharmaceutical unit Chia Tai Tianqing Pharmaceutical Group will purchase the drug from GSK and handle its import, distribution, hospital access, and commercialization in mainland China. The term may be extended, subject to mutual agreement.Meanwhile, GSK will retain marketing authorization and remain responsible for regulatory, quality, pharmacovigilance, and global strategy matters. The global biopharma company will also be able to review certain early-stage pipeline assets of Sino Biopharmaceutical to evaluate the potential for collaboration opportunities outside China.Besides its priority review and breakthrough therapy designation in China, bepirovirsen has received priority review, fast track and breakthrough labels from the US Food and Drug Administration, and SENKU designation in Japan for an expedited assessment.

$GSK.L

US Markets89d ago

Adnoc Drilling Affirms 2026 Outlook After Record First-quarter Performance

Adnoc Drilling (ADX:ADNOCDRILL) said Monday it is well-placed to meet its full-year 2026 guidance, following a "best-ever" first-quarter performance.The offshore drilling company expects net profit of between $1.45 billion and $1.50 billion and revenue of $5 billion for 2026, bolstered by high utilization, expanding integrated services and multi-year contract visibility.Supporting this reiterated outlook, Adnoc Drilling's profit after tax rose year over year to $346.7 million from $340.9 million, while revenue climbed to $1.23 billion from $1.17 billion in the year-ago period. The 5% increase in revenue was underpinned by operational stability and efficiency alongside "strong" cash generation across its segments amid shifting market conditions.With free cash flow up 12% year over year to $356 million, the board recommended a cash dividend of 0.06025 Emirati dirham per share for the first quarter, subject to shareholders' approval. A year ago, the management paid 0.04976 dirham per share.While the quarterly dividend translates to $262.5 million in total, Adnoc Drilling said its 2026 dividend floor of $1.05 billion is still "well supported by strong free cash flow generation, long-term contract coverage and balance sheet strength."

ADX:ADNOCDRILL

US Markets89d ago

oOh!media Gets Second Takeover Offer From I Squared Capital

oOh!media (ASX:OML) received a second takeover offer in about two weeks. I Squared Capital, or ISQ, offered to take over the Australian outdoor advertising and media company for AU$1.45 per share, the company said in a Monday press release.ISQ's takeoffer price is higher than Pacific Equity Partners' previous offering of AU$1.40 per share.The second takeover offer could value the company at AU$765.9 million, according to Bloomberg News on Monday.Both offers are conditional and non-binding and ISQ's offer price is subject to adjustment. However, the company deemed that neither offer "adequately reflects the intrinsic value of oOh!"Despite this, the company is prepared to give both ISQ and PEP access to a "limited amount of due diligence information" to see whether they can offer a revised proposal, according to the release.Amid the offer, the company decided to pause its plan to buy back about 53.9 million shares. The program was supposed to run from March 12 this year until March 11, 2027.Morningstar director Brian Han said PEP's offer, which was previously labelled as "opportunistic", was actually "merely a conversation starter", with which ISQ came in with a higher offer, according to a Financial Review article on Monday.The company may have rejected both offers, Han said, but the company has set up a "'for auction' sign", the report said.However, Entcho Raykovski, Evans and Partners' head of media and telecoms research, described ISQ's offer as "undemanding". An offer of up to AU$1.60 per share could bring an internal rate of return in double digits for a private equity acquirer, Raykovski said in the AFR report.oOh!media said it is engaging with other parties and "may potentially receive change of control proposals" from them, according to the company's release.The company showed good performance for the whole year of 2025 as its revenue rose to AU$691.4 million from AU$635.6 million a year earlier. Its adjusted earnings also went up to AU$0.117 per share from AU$0.109 in the prior year.oOh!media's shares jumped 7.1% at the close.

ASX:OML

US Markets89d ago

Indonesia's Consumer Confidence Remains Resilient in April Amid Solid Q1 Expansion

Indonesia's consumer confidence stayed upbeat in April, reflecting continued optimism as growth stayed relatively strong at the start of 2026.Bank Indonesia said its Consumer Confidence Index edged up to 123 in April from 122.9 in March, remaining firmly in optimistic territory above the 100-point threshold, according to its latest survey released on Monday."The improvement was mainly driven by stronger assessment of current economic conditions," the central bank said."The Current Economic Conditions Index rose to 116.5 from 115.4 in the previous month, while the Consumer Expectations Index eased slightly to 129.6 from 130.4 but remained optimistic," it added.The upbeat sentiment comes as Indonesia's economy continued to expand at a solid pace in the first quarter.Indonesia's gross domestic product grew 5.61% year over year in the January-to-March period, stronger than the 5.30% expected by analysts in a Reuters poll and the 5.39% growth recorded in the fourth quarter of 2025.Accommodation and food service activities recorded the strongest growth on the production side, while government consumption led expenditure growth, according to official data.The latest figures place Indonesia among the stronger-performing economies in Asia during the first quarter, trailing Taiwan's AI-fueled 13.7% surge and Vietnam's 7.83% growth supported by robust exports.However, the country continues to face external pressures from the conflict in the Middle East, which has pushed up global energy prices and weighed on the rupiah.The currency slid to a record low of 17,445 per U.S. dollar earlier this month as global risk sentiment deteriorated.On a quarterly basis, the economy contracted 0.77% from the fourth quarter, with mining and quarrying posting the steepest decline.Java remained the largest contributor to the economy in the first quarter, accounting for 57.24% of Indonesia's economic activity and recording annual growth of 5.79%.The government is targeting economic growth of 5.4% in 2026, while Bank Indonesia forecasts growth in a range of 4.9% to 5.7% for the year.

^JKSE

US Markets89d ago

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 Markets89d 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 Markets89d 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 Markets92d 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 Markets92d 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 Markets92d 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 Markets92d 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 Markets92d 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 Markets92d 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 Markets92d 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 Markets92d 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 Markets92d 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 Markets92d 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 Markets92d 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

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US Markets92d ago

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

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