logo
China Loosens Urea Exports to India in Sign of Thawing Tensions

China Loosens Urea Exports to India in Sign of Thawing Tensions

Bloomberg3 days ago
China has eased curbs on urea shipments to India, in the latest indication of a thaw in tensions between Beijing and New Delhi as US President Donald Trump's trade policies target the two Asian nations.
India, the world's top importer of the crop nutrient, could take as much as 300,000 tons, according to people familiar with the matter. They asked not to be identified as they were not authorized to talk to the media. China is typically a major exporter of the nitrogen-based fertilizer, although it has restricted sales in recent years.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Tencent's Comeback? Analysts Just Raised the Roof on This Stock
Tencent's Comeback? Analysts Just Raised the Roof on This Stock

Yahoo

time26 minutes ago

  • Yahoo

Tencent's Comeback? Analysts Just Raised the Roof on This Stock

Tencent (TCEHY) just reminded investors it's still a force to be reckoned with. After posting a 15% year-over-year revenue jump to 184.5 billion yuan ($25.7 billion) in Q2beating expectationsanalysts wasted no time recalibrating their outlook. The stock's consensus target price has now surged over 5% to HK$688, its second-biggest upward revision in five years. With Tencent closing at HK$594.50 on Friday, that new target implies nearly 16% upside over the next 12 months. Warning! GuruFocus has detected 5 Warning Sign with VWAGY. The earnings beat wasn't a one-trick pony. Tencent showed double-digit growth across multiple business lines, especially in advertising, where AI enhancements are starting to pay off. This wasn't lost on analystsat least 16 of them now expect the stock to break past its 2021 peak, a level it hasn't touched since China's sweeping tech crackdown began. The bullish case? Tencent is no longer just playing defenseit's quietly building momentum again. One potential catalyst is set to drop next Tuesday: the mobile release of Valorant, a blockbuster title that could juice gaming revenue in the second half of the year. Combine that with Tencent's rebound narrative, AI tailwinds, and improved execution, and this could be the beginning of a new uptrend. It's not confirmed yetbut the signals are getting harder to ignore. This article first appeared on GuruFocus. 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

BofA Securities Lifts Dow to Neutral, Sets $25 Price Target
BofA Securities Lifts Dow to Neutral, Sets $25 Price Target

Yahoo

time26 minutes ago

  • Yahoo

BofA Securities Lifts Dow to Neutral, Sets $25 Price Target

BofA Securities on Thursday upgraded Dow (DOW, Financials) to Neutral from Underperform, setting a $25 price target. The bank said the stock is trading near a cyclical low, with valuations now benchmarked to normalized EBITDA, which it estimates at $7 billion versus the $9 billion goal outlined at the company's 2024 Investor Day. Warning! GuruFocus has detected 9 Warning Signs with DOW. Dow's current EBITDA is $3.86 billion, and the company maintains a dividend yield of 6.11% despite weak operating conditions. BofA cited two structural challenges: planned capacity additions in China over the next three years that could lower utilization rates for commodity products, and what it described as a permanently impaired European asset base due to higher costs and softer demand. The firm noted these are industry-wide headwinds, not unique to Dow, and said the company is reviewing its European polyurethanes business as part of a broader repositioning. Recent analyst actions have varied, with Fitch Ratings downgrading Dow's long-term issuer rating to BBB from BBB+, Rothschild Redburn upgrading to Buy, and BMO Capital maintaining an Underperform rating with a $20 price target. This article first appeared on GuruFocus.

Applied Materials projects weaker semiconductor equipment revenue
Applied Materials projects weaker semiconductor equipment revenue

UPI

time26 minutes ago

  • UPI

Applied Materials projects weaker semiconductor equipment revenue

1 of 2 | President Donald Trump (pictured during a meeting with Chancellor Friedrich Merz of Germany in the Oval Office at the White House in Washington, D.C., in June) has proposed a 100% tariff on semiconductors and possibly a 300% rate. U.S.-based Applied Materials' stock price slumped by double digits on Friday after the semiconductor equipment maker reported a projected decline in revenue amid tariff worries in China. File Photo by Chris Kleponis/UPI | License Photo Aug. 15 (UPI) -- Applied Materials' stock price slumped by double digits on Friday after the semiconductor equipment maker reported a projected decline in revenue amid tariff worries in China. On the Standard and Poor's 500 index, the company's stock decreased 11% at the opening bell and was trading at $162.09, down 13.87%, at 2 p.m. Entering trading, Applied Materials was up more than 15% for the year. The stock reached $199.29 on July 15 with the record $235.99 in April 2024. The company, based in Santa Clara, Calif., reported the sixth consecutive quarter of revenue growth, including $7.3 billion in the third quarter, but foresees a weaker situation in the next quarter. They initially projected $6.7 billion in revenue for the quarter. "We are expecting a decline in revenue in the fourth quarter driven by both digestion of capacity in China and non-linear demand from leading-edge customers given market concentration and fab timing," Brice Hill, senior vice president and CFO at Applied Materials, said. "We are navigating and adapting to the near-term uncertainties by leveraging our robust supply chain, global manufacturing footprint and deep customer relationships." CEO Gary Dickerson, during an earnings call with analysts, said the current macroeconomic situation and trade issues have fueled "increasing uncertainty and lower visibility," mainly within its business in China. In addition, he said their forecast does not account for pending export license applications and a substantial backlog of products. Dickerson noted the easing of spending from customers, with Chinese clients cutting spending after increasing equipment manufacturing in the region. President Donald Trump has proposed a 100% tariff on semiconductors and possibly a 300% rate. Exempt companies would be those with manufacturing facilities in the United States. Applied Materials doesn't make chips, and instead supplies equipment, services and software used by the makers of the chips. The company's largest plant for logistics and logistics is in Austin, Texas. On Monday, Trump extended a tariff pause until Nov. 10 on products sent to the United States from China. Originally, he threatened 145% duty, but it was later lowered to 30% plus the baseline tariffs imposed on nearly all U.S. trading partners. The baseline remains in effect. In June, Trump announced a trade agreement with China over rare earth minerals. Under the deal, China would export rare earth minerals to the United States with both countries reducing their tariffs for 90 days. Rare earth minerals fuel energy sources for mobile devices and electric vehicles. Despite uncertainty, Applied Equipment in its report wrote that "we remain very confident in the longer-term growth opportunities for the semiconductor industry and Applied Materials. The company's adjusted earnings of $2.11 per quarter was short of the $2.39 expected by LSEG. Net income hit $1.78 billion, or $2.22 per share. One year ago, it was $1.71 billion, or $2.05 per share. The gross margin was 48.8% compared with 47.3% one year ago, and the operating margin was 30.6% vs. 28.7% in 2024. The company specializes in materials engineering solutions for semiconductors, flat panel displays and solar photovoltaic industries. The company's revenue in semiconductor equipment is No. 1 in the world, followed by the Dutch company ASML. Sales at all three Applied Materials units rose: Semiconductor Systems at $5.43 billion, Applied Global Services at $1.60 billion and and Display t a$263 million. The company's market capitalization is $151.06 billion. It was founded in 1967 as a startup.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store