DLocal CEO Sees E-Commerce Firms Rushing Into Milei's Argentina
Merchants selling everything from electronics, consumer goods and streaming services are coming back to Argentina as President Javier Milei unwinds years of controls, according to the the top executive at payment services provider DLocal Ltd.
The company, which focuses on firms offering goods largely from China, the US and Europe into emerging markets, is seeing renewed activity in crisis-prone Argentina adding to its overall business with an expectation for that to continue, Chief Executive Officer Pedro Arnt said in an interview.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
an hour ago
- Yahoo
The S&P 500 closes at 6,000 as bulls aim for return to record territory
The S&P 500 finished just a hair above 6,000 Friday — a key psychological level that technicians see potentially setting the stage for a possible run back to a record high as investors continue to shake off tariff jitters and recession fears that rocked the market earlier this year. The S&P 500 SPX ended Friday at 6,000.36, after a gain of 1%. That leaves it just 2.3% below its record finish of 6,144.15 set on Feb. 19 and marks the first close above 6,000 since Feb. 21. My new husband gave me a contract and told me to 'sign here' — but I refused. It was the best decision of my life. 'The situation is extreme': I'm 65 and leaving my estate to only one grandchild. Can the others contest my will? I help my elderly mother every day and drive her to appointments. Can I recoup my costs from her estate? 'He failed in his fiduciary duty': My brother liquidated our mother's 401(k) for her nursing home. He claimed the rest. My daughter's boyfriend, a guest in my home, offered to powerwash part of my house — then demanded money 'While no one's made a hat for it that I've seen, the 6,000 level on the S&P 500 is a key psychological threshold that the market has struggled to establish a firm foothold above for eight months now,' Matthew Weller, global head of market research at StoneX, said in an email Friday morning. After its February record, the S&P 500 began a pullback that took it nearly 20% lower — the threshold for a bear market — on April 8, before it subsequently set off on a recovery. That bounce has seen stocks take back all of their tariff-induced April losses and then some, with the S&P 500 coming within a whisker of 6,000 and hitting an intraday high of 5,999.70 in Thursday's session before turning back. It finally pushed back above the threshold on Friday as investors cheered the May jobs report, trading as high as 6,016.87 in early trading before trimming its gain. 'What people are looking for is to see if the S&P can close above 6,000,' said Louis Navellier, founder of Navellier & Associates, in a Friday note ahead of the close. 'Clearly, the trend remains positive.' At the same time, market watchers warn that the tariffs are still likely to have an effect on employment, inflation and, of course, corporate earnings. After a strong first quarter, earnings expectations for the remainder of the year have declined in recent weeks, Larry Adam, chief investment officer at Raymond James, said in a Friday note. 'Given the rebound in equities and elevated expectations, the bar has been raised to break out to a fresh high, likely requiring an increase in earnings expectations,' said Mark Hackett, chief market strategist at Nationwide. Don't miss: The two rules investors need to follow right now as the S&P 500 returns to 6,000 Weller said that from a near-term perspective, 6,000 marks the top of a three-week ascending-triangle pattern. That means a confirmed weekly close above it 'could set the stage for a retest of the record highs near 6,150 in short order.' An ascending triangle consists of a horizontal line marking two or more recent highs near the same level and an ascending trend line drawn off a series of rising market lows (see below). Investors may still want to see a more convincing move above 6,000 for reassurance, analysts said. Meanwhile, a big downside reversal off of 6,000 'would raise fears of a lower high in the broader index and would raise the odds of a deeper retracement back toward the mid-5,000s after the torrid rally off the April lows,' Weller said. 'I'm not wildly wealthy, but I've done well': I'm 79 and have $3 million in assets. Should I set up 529 plans for my grandkids? The S&P 500 closes at 6,000 as bulls aim for return to record territory How do I make sure my son-in-law doesn't get his hands on my daughter's inheritance? Circle's stock is having another big day. What the blockbuster IPO has meant for other cryptocurrency plays. What's at stake if world's most powerful market finally buckles after decades-long U.S. debt splurge Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 hours ago
- Yahoo
Legendary fund manager sends blunt 6-word message on bitcoin
Legendary fund manager sends blunt 6-word message on bitcoin originally appeared on TheStreet. It's been a wild ride for markets since President Trump announced widespread tariffs on April 2. Trump's so-called 'Liberation Day' announcement included higher tariff rates than hoped, leading to investors reworking their expectations for the U.S. economy. There's evidence that a potential U.S. economic slowdown may already be underway, and despite ongoing tariff negotiations, risks remain that tariffs may push the economy into stagflation or outright recession. That risk continues to cast a shadow over risk assets, including stocks and cryptocurrency, which tend to perform best when wallets are fat and consumers and businesses are increasing spending, rather than ratcheting stock market sell-off was big, with the S&P 500 and Nasdaq Composite falling 19% and 24% from early-year highs, respectively. Bitcoin fell alongside stocks, losing 27% from its January high through April 8. The drop in risk assets was unsettling, but created opportunity for risk-tolerant investors to 'buy the dip.' Since President Trump paused most of the reciprocal tariffs announced on April 2 on April 9, the Nasdaq and bitcoin have surged higher by 28% and 39% respectively. The gains have been impressive, but not everyone is convinced it will be clear sailing from here. Veteran Wall Street bond manager Bill Gross has navigated good and bad markets since 1971. He co-founded Pacific Investment Management Co., or PIMCO, a huge firm with $2 trillion under management. He formerly managed over $270 billion via PIMCO's Total Return Fund, earning him the 'Bond King' nickname before moving to Janus Henderson Investors from 2014 to 2019. Gross offered a blunt message about bitcoin this week, and given his track record, his opinion is worth considering. There's been considerable debate about what will happen to the economy next. Many think tariffs will tax cash-strapped consumers later this year, lowering economic growth, even as businesses press pause on projects awaiting trade deal clarity. Others believe the risks of tariffs derailing activity are overblown and temporary. The jobs market arguably remains healthy, given that the unemployment rate is relatively low at 4.2%. However, unemployment is up from 3.4% in 2023, and companies announced 93,816 job cuts in May, up 47% year over year, according to Challenger, Grey, & uptick in joblessness prompted the Federal Reserve to cut interest rates by 1% last year; however, the Fed has paused on additional cuts over fear that reducing rates could swell inflation, given that tariffs are only beginning to be felt on prices. The Fed's hesitancy to cut interest rates has drawn sharp criticism from the White House, ostensibly because it recognizes tariffs may slow GDP, worsening unemployment. If the economy were to drop off, and the Fed remained unwilling to budge on interest rates, Congress may be unable to adjust fiscal policy fast enough to bridge the gap, given our deficit and mountain of debt. The U.S. deficit is over $1.8 trillion, representing roughly 6.4% of gross domestic product. Meanwhile, total public debt outstanding is approximately 122% of GDP, far higher than its 75% level in 2008 during the Great Recession. The economic uncertainty has led to bitcoin and gold finding willing buyers as market participants look to diversify risk. Bill Gross's 50 years of Wall Street experience mean he's seen many market pops and drops, including the Nifty 50, skyrocketing inflation in the 1970s, the S&L crisis in the late 80s and early 90s, the Internet boom and bust, the Great Recession, Covid, and the 2002 bear market. More Experts Fed official sends strong message about interest-rate cuts Billionaire fund manager sends surprising message on trade deficit Hedge-fund manager sees U.S. becoming Greece In short, Gross has been around the block, making his take on bitcoin worth paying attention to. Gross believes bitcoin is valuable because individuals and others widely hold it, and its supply is capped. "There are now approximately 19.4 million Bitcoins priced at about 107,000 each. The supply of total coins is capped at 21 million over the next few years of 'mining," wrote Gross recently on X. "While hard to estimate, approximately 90-95% are held by individuals, institutions, and the moment there is 'value' to a Bitcoin." However, Gross appears to think that bitcoin's value may be reflected in its price after its recent rally. "It is in the 'meme stock' world for the most part — more valuable than a Trump coin but subject to excessive volatility with underlying value hard to measure," wrote Gross. "There are better risk/reward opportunities," added Gross bluntly. "Any asset category using high leverage is a future risk not only to the asset itself but to the financial system as a whole."Legendary fund manager sends blunt 6-word message on bitcoin first appeared on TheStreet on Jun 7, 2025 This story was originally reported by TheStreet on Jun 7, 2025, where it first appeared. Fehler beim Abrufen der Daten Melden Sie sich an, um Ihr Portfolio aufzurufen. Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten
Yahoo
2 hours ago
- Yahoo
Intralot SA (FRA:9IL) Q1 2025 Earnings Call Highlights: Strong Revenue Growth Amidst US Market ...
Revenue Growth: Increased by 10.9% year-over-year. Operating Cash Flow: Approximately EUR49 million, EUR22 million higher than the previous year. Cash Balance: EUR76 million, EUR11.5 million higher than 2024 year-end. Adjusted Net Debt: EUR316.5 million, improved by EUR40 million from 2024 year-end. Adjusted Net Leverage Ratio: Improved to 2.4 times from 2.7 times at year-end 2024. Free Cash Flow Generation: EUR38.4 million. Earnings Before Tax: EUR3.6 million, compared to EUR5.4 million in Q1 2024. Principal Debt Repayments: EUR12.9 million. Net Interest Payments: EUR10 million. Regional Performance: North America stable in revenue, EUR2.3 million lower in EBITDA. Warning! GuruFocus has detected 5 Warning Signs with FRA:9IL. Release Date: May 30, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Intralot SA (FRA:9IL) experienced growth in revenues and stable EBITDA performance in the first quarter of 2025 compared to the previous year. The company generated strong operating and free cash flow, with operating cash flow approximately EUR49 million, EUR22 million higher than the previous year. Cash balance at the end of the quarter increased by EUR11.5 million compared to the end of 2024, reaching EUR76 million. Adjusted net debt improved by around EUR40 million compared to the end of 2024, reflecting a stronger credit profile. Revenue growth was supported by strong performances in Turkey, Argentina, and Croatia, despite challenges in the US market. The absence of significant jackpots in the US market impacted revenue and EBITDA, with North America experiencing a EUR2.3 million decrease in EBITDA. The growth in revenue came from jurisdictions with lower margins, such as Argentina and Turkey, affecting overall profitability. Inflationary pressures in North America led to increased costs, contributing to lower EBITDA despite stable revenue. The company faced a negative variance in earnings before tax due to hyperinflation indexation and higher depreciation. The lack of multistate jackpots in the US market is a concern, as it directly affects revenue and EBITDA generation. Q: Could you provide some color on potential uses of capital? Is the company considering any asset transactions or acquisitions? A: Nikolaos I. Nikolakopoulos, Group CEO: Currently, we are focused on executing our operational plan and deploying CapEx in projects like New Hampshire and New Zealand. Our primary focus is on generating cash and deleveraging, with no current plans for acquisitions. Q: Regarding your refinancing strategy, is the company considering a broader refinance of the whole structure or extending maturities for a better profile? A: Andreas Chrysos, CFO: We are exploring various options to unify the capital structure and will announce plans once finalized to refinance the existing debt. Q: Has anything changed in your outlook for the year given the stable first quarter performance and recent macro events? A: Andreas Chrysos, CFO: No changes have been made. We remain focused on executing our plan and are positive about this year's performance. Q: In North America, revenue was stable, but EBITDA was down. Could you elaborate on the cost pressures? A: Nikolaos I. Nikolakopoulos, Group CEO: The absence of significant jackpots affected revenue, which was compensated by selling equipment and solutions. The costs associated with these sales impacted EBITDA. We believe this is a seasonal issue and expect normalization with future jackpots. Q: For the rest of the world, revenue and EBITDA increased equally. Could you explain the cost dynamics? A: Andreas Chrysos, CFO: The growth came from jurisdictions with lower margins, such as Argentina and Turkey. It's not about increased costs but rather the mix of jurisdictions contributing to revenue growth. Q: Can you discuss the macro environment in Argentina and its impact on growth? A: Nikolaos I. Nikolakopoulos, Group CEO: In Argentina, we provide technology and share revenue with states. The improved macro environment has led to increased player spending, benefiting our operations without additional marketing efforts from our side. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
